7 1.87 points American Chip Corporation's fiscal year-end is December 31. The following is a partial adjusted trial balance as of December 31, 2018. Account Title Debits Credits Retained earnings 82,000 Sales revenue 770,000 Interest revenue 4,000 Cost of goods sold 430,000 Salaries expense 120,000 Rent expense 17,000 Depreciation expense 32,880 Interest expense 5,200 Insurance expense 6,200 Book Hint Required: Prepare the necessary closing entries at December 31, 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction ist - References Journal entry worksheet 2 3 Record the entry to close the revenue accounts using the income summary. Note: Enter debits before credits Date December 31, 2018 General Journal Debit Credit Mc Graw HII 7 Required: Prepare the necessary closing entries at December 31, 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 187 points View transaction list eBook Journal entry worksheet Hint Record the entry to close the revenue accounts using the income summary. Print Note: Enter debits before credits General Journal Debit Credit References Date December 31 2018 Record entry Clear entry View general journal MC Graw Hill 7 Required: Prepare the necessary closing entries at December 31, 2018. (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list 1.87 points Journal entry worksheet eBook > Record the entry to close the expense accounts using the income summary Hint Print Note: Enter debits before credits General Journal Debit Credit References Date December 31 2018 Record entry Clear entry View general Journal 7 Required: Prepare the necessary closing entries at December 31, 2018. ( no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 187 points View transaction list Journal entry worksheet eBook 3 Hint Record the entry to close the income summary account. Print Note: Enter debits before credits General Journal Debit Credit References Date December 31 2018 Record entry Clear entry View general journal Mc Graw Hill