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21 The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Debit Credit Cash Accounts receivable Prepaid rent 12,100 166,000

21 The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Debit Credit Cash Accounts receivable Prepaid rent 12,100 166,000 6,600 Inventory 41,000 Equipment Accumulated depreciation-equipment Accounts payable 460,000 141,000 46,000 025714 Notes payable-due in three months Salaries payable 46,000 5,600 Interest payable Common stock Retained earnings Dividends Sales revenue Costs of goods sold Salaries expense Rent expense Depreciation expense Interest expense Advertising expense Totals 18,600 280,000 85,200 16,000 560,000 200,000 136,000 31,000 46,000 3,600 4,100 1,182,400 1,182,400 Required: Prepare the closing entries for China Tea Company for the year ended December 31, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Help Save & Exit

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