American Chip Corporation's reporting year-end is December 31. The following is a partial adjusted trial balance as of December 31. 2024. Account Title Retained earnings Debits Credits $ 87,000 820,000 6,500 Sales revenue Interest revenue Cost of goods sold $ 455,000 Salaries expense 170,000 Rent expense 22,000 Depreciation expense 37,000 Interest expense 5,700 Insurance expense 6,700 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 fleld. View transaction list Journal entry worksheet > 1 2 Record the entry to close the revenue accounts. Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit Record entry Clear entry View general journal