American Chip Corporation's reporting year-end is December 31. The following is a partial adjusted trial balance as of December 31, 2021. Debits Credits 89,000 840,000 7,500 Account Title Retained earnings Sales revenue Interest revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Insurance expense 465,000 190,000 24,000 39,00 5,900 6,900 Required: Prepare the necessary closing entries at December 31, 2021. (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 > Record the entry to close the revenue accounts