Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $685 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 $3,340 in cash (for a total at the end of the year of 970 shares). These effects are included below: Cash Catena's Marketing Company Adjusted Trial Balance End of the Current Year Debit Credit $1,585 Accounts receivable 2,370 Interest receivable 134 Prepaid insurance 1,770 Long-term notes receivable 3,650 Equipment 16,990 Accumulated depreciation $3,340 Accounts payable 2,740 Dividends payable 685 Accrued expenses payable 4,090 Income taxes payable 1,884 Unearned rent revenue Common Stock (970 shares) Additional paid-in capital Retained earnings Sales revenue 585 97 3,790 1,740 42,410 Rent revenue 885 Interest revenue 134 Wages expense 21,200 Depreciation expense 2,140 Utilities expense 448 Insurance expense 903 Rent expense 9,340 1,850 $62,380 $62,380 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. 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 Record entry Clear entry View general journal >