Credit 26 Debit 11,500 160,000 6,000 35,000 400,000 Cash Accounts receivable Prepaid rent Inventory Equipment Accumulated depreciation-equipment Accounts payable Notes payable-due in three months Salaries payable Interest payable Common stock Retained earnings Dividends Sales revenue Costs of goods sold Salaries expense Rent expense Depreciation expense Interest expense Advertising expense Totals 135,000 40,000 40,000 5,000 15,000 250,000 72,000 13,000 500,000 230,000 130,000 25,000 40,000 3,000 3,500 1,057,000 1,057,000 Required: Prepare the closing entries for China Tea Company for the year ended 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 1 Record the entry to close the revenue accounts. 2 Record the entry to close the expense accounts. 3 Record the entry to close the dividends account