The income statement for the Teal Mountain Inc. for the month ended July 31 shows...
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Accounting
The income statement for the Teal Mountain Inc. for the month ended July 31 shows Service Revenue $16,810, Salaries and Wages Expense $8,970, Maintenance and Repairs Expense $4,020, and Income Tax Expense $1,270. The statement of retained earnings shows an opening balance for Retained Earnings of $22,680 and Dividends $1.980. (a) Prepare closing journal entries. (If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually) uestion1of2(Todoserevenueaccount) July 31 12.5i (To close net income/(loss) to retained earnings) July 31 (To close dividends to retained earnings)
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