M$4-13($Algo$)$ Recording a Closing Entry L$04-4$

Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $$610$ were

declared at the end of the year, and $500$ additional shares of common stock $($ $$0\mathrm{.}10$ par value per share$)$ were issued at the end of the

year for $$3,040$ in cash $($for a total at the end of the year of $820$ shares$).$ These effects are included below:Prepare the closing entry at the end of the current year.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet

$1$

Record the closing entry at the end of the current year.

Note: Enter debits before credits.

$\backslash$table$[[$Transaction$,$General Journal,Debit,Credit$],[1,,,],[,,,],[,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$