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. UNADJUSTED Debit Credit 24 21 16 83 17 Account Titles Cash Accounts receivable Prepaid insurance Machinery Accumulated depreciation Accounts payable Wages payable Income taxes payable Connon stock (4,000 shares) Additional paid-in capital Retained earnings Revenues not detailed) Expenses (not detailed) Totals 4 63 15 106 31 190 190 Other data not yet recorded at December 31 include a. Insurance expired during the current year, $11. b. Wages payable, $15 c. Depreciation expense for the current year, $17. d. Income tax expense, $9. Required: 2. Using the adjusted balances, give the closing entry for the current year. (If no entry is required for a transaction/event, select "No Journal entry required" in the first account field. Enter your answers in thousands.) Other data not yet recorded at December 31 include a. Insurance expired during the current year, $11. b. Wages payable, $15. c. Depreciation expense for the current year, $17. d. Income tax expense, $9. Required: 2. Using the adjusted balances, give the closing entry for the current year. (if no entry is required for a transaction/event, select "No Journal entry required" in the first account field. Enter your answers in thousands.) View transaction list View Journal entry worksheet 1 Transaction TELE No 1 General Journal Debit 0 Credit Revenues Expenses Retained earings 11 11