Exercise 2-14 (Algo) Closing entries [LO2-8] 6 Presented below is income statement information of the Scheffer Corporation for the year ended December 31, 2021 1 al revenue Salaries expere Interest Tue Advertising expense Gain on sale of investments Coss of goods sold Insurance Expense Interesse pense In tax expense Depreciation expense $461,000 70,000 1.800 10,000 2.400 255.200 11,660 a. 200 22.000 10,000 flock Print Required: Prepare the necessary closing entries at December 31, 2021 (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) ferences View transaction list Journal entry worksheet 1 2 Record the entry to close the revenue accounts. Note: Enter debits before credits General Journal Debat C habe Dec 31, 2021 acord entry Clear entry View general journal 0) Exercise 2-14 (Algo) Closing entries [LO2-8] Presented below is income statement information of the Schefter Corporation for the year ended December 31, 2021. Sales revenue Salaries expense Interest Ferene Advertising expenne Gain on sale of investants Cost of goods sold TASLERCE expense Tnterest expense Theme tax expense Depreciation expense $464.000 90.000 5,600 10,000 7,400 255,200 11, 600 2,800 39,000 10,000 Book Tint Required: Prepare the necessary closing entries at 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 Journal entry worksheet