1:14 NA S Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $620 were declared at the end of the year, and 630 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,990 In cash (for a total at the end of the year of 840 shares). These effects are included below: Catena's Marketing Company Adjusted Trial Balance End of the Current Year Debit Credit Cash $ 1,480 Accounts receivable 2,210 Interest receivable 210 Prepaid insurance 1,620 Long-term notes receivable 2,910 Equipment 16,800 Accumulated depreciation $ 3,010 Accounts payable 2,350 Dividends payable 620 Accrued expenses payable 3,790 Income taxes payable 2,510 Unearned rent revenue 450 84 Common Stock (840 shares) Additional paid-in capital 3,506 Retained earnings 3,400 I 38,310 Sales revenue 190 Interest revenue 760 Rent revenue 20,400 Wages expense 1,610 Depreciation expense Utilities expense 800 Insurance expense 7,800 Rent expense 2,730 Income tax expense $ 58,980 $ 58,980 Total ces 410 Prey 1 of 6 !!! Next > 44 Check my work 4 E4-22 (Algo) Recording A Closing Entry LO4-4 1.83 points Green Valley Company prepared the following trial balance at the end of its first year of operations ending December 31. To simplify the case, the amounts given are in thousands of dollars. 3 01:20:23 UNADJUSTED Debit Credit 14 11 6 73 eBook Print 7 References Account Titles Cash Accounts receivable Prepaid insurance Machinery Accumulated depreciation Accounts payable Wages payable Income taxes payable Common stock (5,000 shares) Additional paid-in capital Retained earnings Revenues not detailed) Expenses (not detailed) Totale 5 53 65 21 130 130 Other data not yet recorded at December 31 Include a. Insurance expired during the current year, $4 b. Wages payable, $5. c. Depreciation expense for the current year, $7. d. Income tax expense, $8. Required: 2. Using the adjusted balances, give the closing entry for the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in thousands.) View transaction list Journal entry worksheet