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American Chip Corporation's fiscal year - end is December 3 1 . The following is a partial adjusted trial balance as of December 3 1

American Chip Corporation's fiscal year-end is December 31. The following is a partial adjusted trial balance as of December 31,2018.
entries
\table[[Account Title,Debits,Credits],[Retained earnings,,80,000],[Sales revenue,750,000,],[Interest revenue,,3,000],[Cost of goods sold,420,000,],[Salaries expense,100,000,],[Rent expense,15,000,],[Depreciation expense,30,000,],[Interest expense,5,000,],[Insurance expense,6,000,]]
Required:
Prepare the necessary closing entries at December 31,2018.
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