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 D Account Titles Credit Cash Accounts receivable 24 Macnsurance Accumulated depreciation unts payable Income taxes payable Common stock (4,000 shares) Retained earninge Revenues (not detailed) (not detailed) 20 18 116 Ex Totals 20F Other data not yet recorded at December 31 include: Insurance expired during current year, $12. b. Wages payable, $13. for current year, $15. Income tax expense, $12. Required: 2. Using the adjusted balances, give the closing entry for current year. (Enter your answers thousands.) View transaction list Journal entry worksheet 1 Record the closing entry for current year. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal