A)

B)

Presented below is income statement information of the Schefter Corporation for the year ended December 31, 2021 Sales revenue Salaries expense Interest revenue Advertising expense Gain on sale of investments Cost of goods sold Insurance expense Interest expense Income tax expense Depreciation expense $492,000 80,000 6,000 10,000 8,000 284,000 12,000 4,000 30,000 20,000 Prepare the necessary closing entries at December 31, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 Record the entry to close the revenue accounts. Note: Enter debits before credits General Journal Debit Credit Date Dec. 31, 2021