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 Sales revenue Interest revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Insurance expense Debits Credits: $ 98,000 930,000 6,500 $ 510,000 170,000 33,000 48,000 6,800 7,800 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. View transaction list Journal entry worksheet < 1 2 Record the entry to close the revenue accounts. Note: Enter debits before credits. < Prev 4 of 6 Next >