Credit Debit $ 1,240 2,100 2,400 3,100 12,500 Cash Accounts Receivable Prepaid Insurance Notes Receivable (long- term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Taxes Payable Unearned Revenue Common Stock Retained Earnings Dividends Sales Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Income Tax Expense $ 2,800 5,520 1,050 3,000 620 2,500 1,040 310 42,930 310 21,800 1,400 4,320 1,500 6.100 3.000 Total $59.770 $59.770 Journal entry worksheet Record the closing entry for revenues and expenses. Note: Enter debits before credits. Date Credit Dec 31 Debit 42,930 310 General Journal Sales Revenue Rent Revenue Retained Earnings Insurance Expense Income Tax Expense Rent Expense Utilities Expense Depreciation Expense 1,500 3,000 6,100 4,320 1,400 Record entry Clear entry View general journal Journal entry worksheet