E4-22 (Algo) Recording A Closing Entry LO4-4 Green Valley Company prepared the following trial balance at the end of its first year of operations ending December 31. To simplify the case, the amounts given are in thousands of dollars. Account Titles UNADJUSTED Debit Credit Cash 14 Accounts receivable 11 6 Prepaid insurance Machinery 73 Accumulated depreciation Accounts payable Wages payable Income taxes payable Common stock (5,000 shares) Additional paid-in capital Retained earnings Revenues (not detailed) Expenses (not detailed). Totals 21 130 130 Other data not yet recorded at December 31 include a. Insurance expired during the current year, $4. b. Wages payable, $5. c. Depreciation expense for the current year, $7. d. Income tax expense, $8. Required: tudiuntod balances give the closing entry for the current year. (If no entry is required for a transaction/event, select "No 5 55 53 65 View transaction list Journal entry worksheet