American Chip Corporation's reporting year-end is December 31. The following is a partial adjusted trial balance as of December 31 , 2024. Required: Prepare the necessary closing entries on December 31, 2024. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Record the entry to close the revenue accounts. Note: Enter debits before credits. Record the entry to close the expense accounts. Note: Enter debits before credits