Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $670 were declared at the end of the year, and 500 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $3,280 in cash (for a total at the end of the year of 940 shares). These effects are included below: Catena's Marketing Company Adjusted Trial Balance End of the Current Year Cash Debit $1,570 Credit Accounts receivable 2,340 Interest receivable 128 Prepaid insurance 1,740 Long-term notes receivable 3,500 Equipment 16,690 Accumulated depreciation $3,280 Accounts payable 2,680 Dividends payable 670 Accrued expenses payable 4,060 Income taxes payable 1,848 Unearned rent revenue 570 Common Stock (940 shares) Additional paid-in capital 94 3,760 Retained earnings 1,680 Sales revenue 41,720 Rent revenue 870 Interest revenue 128 Wages expense 20,900 Depreciation expense 2,080 Utilities expense 436 Insurance expense 876 Rent expense 9,280 1,820 $61,360 $61,360 Income tax expense Total Prepare the closing entry at the end of the current year. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet 1 Record the closing entry at the end of the current year. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal