Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of

$$635$ were declared at the end of the year, and $500$ additional shares of common stock $($ $$0\mathrm{.}10$ par value per share$)$

were issued at the end of the year for $$3,140$ in cash $($for a total at the end of the year of $870$ shares$).$ These effects are

included below:

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.