A company's fiscal year-end is December 31, Year 1. The following is an adjusted trial balance as of December 31. Credit Debit $ 10,500 31,500 22,500 $ Accounts Cash Supplies Prepaid Rent Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Rent Expense Utilities Expense Totals 1.500 15,000 32,500 7,500 2,500 55,500 18,500 11,500 8,500 5.500 $112.000 $112.000 Required: 1. Prepare the necessary closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet 1 2 3 Record the entry to close the revenue accounts View transaction list Journal entry worksheet 2 3 ances Record the entry to close the revenue accounts. Note: Enter debits before credits. General Journal Debit Credit December 31. Year 1 Clear entry View general Journal View transaction list Journal entry worksheet A