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 Debit Credit Cash $1,570 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) 94 Additional paid-in capital 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 Rent expense Income tax expense Total 876 9,280 1,820 $61,360 $61,360 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. View transaction list 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 Emily Consultants Company has a fiscal year ending December 31. For each of the following independent situations, indicate the journal entry by selecting the appropriate account descriptions and enter the amount(s). The first transaction is used as an example. Independent Situations a. Accrued wages, unrecorded and unpaid at year-end, $470. b. Service revenue earned but not yet collected at year-end, $670. c. Dividends declared during the year, $970, to be paid next year. d. Office supplies on hand during the year, $470; supplies on hand at year-end, $230. e. Service revenue collected from customers in advance during the year, $1,570. f. Depreciation expense for the year, $1,070. g. Earned all but $880 of (e) by the end of the year. h. Sold $2,700 in investments at a gain of $220. i. Interest on $8,500, 8 percent note payable (borrowed on October 1 of this year); not yet recorded or paid at year end. j. Indicate the closing entry based on balances at year-end in the following accounts: j. Service revenue, $193,000 j. Interest revenue, $70 j. Gain on sale of investments, $220 j. Wage expense, $137,000 j. Depreciation expense, $1,070 j. Interest expense, $170 j. Supplies expense, $240 j. Dividends payable, $970 j. Income tax expense, $1,800 Debit Credit Account Amount Account Amount Wage Expense 470 Wages Payable 470