The ledger of Quentin Company contains the following balances: Owner”s Capital $30,000; Owner”s…

The ledger of Quentin Company contains the following balances: Owner”s Capital $30,000; Owner”s Drawings $2,000; Service Revenue $50,000; Salaries and Wages Expense $27,000; and Supplies Expense $7,000. Prepare the closing entries at December 31.