4. The adjusted trial balance for China Tea Company at December 31,2024 , is presented below

4. The adjusted trial balance for China Tea Company at December 31, 2024, is presented below: Accounts receivable Inventory Equipment Accumulated depreciation Accounts payable Notes payable (due in three months) Salaries payable Common stock Retained earnings Dividends Sales revenue Costs of goods sold Salaries expense Rent expense Depreciation expense Interest expense Advertising expense Totals Debit $12,500 177,000 500,000 18,000 280,000 140,000 35.000 4,000 a, 500 credit $145,000 50, coo 50,000 27,000 94, 000 600,000 Required: Prepare the closing entries for China Tea Company for the year ended December 31, 2024.