3 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. UNADJUSTED 33.34 points Account Titles Cash Accounts receivable Debit 20 Credit 13 Prepaid insurance 8 Machinery 85 Accumulated depreciation Accounts payable 11 eBook Wages payable Income taxes payable Common stock (4,000 shares) Additional paid-in capital Retained earnings References Revenues (not detailed) Expenses (not detailed) Totals Mc Graw Hill 4 67 6 82 32 164 164 Other data not yet recorded at December 31 include a. Insurance expired during the current year, $6. b. Wages payable, $4. c. Depreciation expense for the current year, $9. d. Income tax expense, $7. Required: 2. Using the adjusted balances, give the closing entry for the current year. (If no entry is required for a transaction/event, select "N journal entry required" in the first account field. Enter your answers in thousands.) View transaction list Journal entry worksheet 1 Record the closing entry for current year. Note: Enter debits before credits. Transaction General Journal Debit Credit 82 a. Revenues Retained earnings Expenses 0 53 Record entry Clear entry View general journal < Prev 3 of 3