The ledger of Rios Company contains the following balances: Owner’s Capital $28,783; Owner’s Drawings $1,397; Service Revenue $50,691; Salaries and Wages Expense $26,061; and Supplies Expense $7,707

The ledger of Rios Company contains the following balances: Owner’s Capital $28,783; Owner’s Drawings $1,397; Service Revenue $50,691; Salaries and Wages Expense $26,061; and Supplies Expense $7,707.

Prepare the closing entries at December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31	[removed]	[removed]	[removed]
	[removed]	[removed]	[removed]
	(To close revenue account.)
31	[removed]	[removed]	[removed]
	[removed]	[removed]	[removed]
	[removed]	[removed]	[removed]
	(To close expense accounts.)
31	[removed]	[removed]	[removed]
	[removed]	[removed]	[removed]
	(To close net income/ (loss).)
31	[removed]	[removed]	[removed]
	[removed]	[removed]	[removed]
	(To close drawings.)