M4-13 (Algo) Recording a Closing Entry L04.4 Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cosh dividends of $610 were declared at the end of the year, and 660 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,880 in cash (for a total at the end of the year of 820 shares). These effects are included below: Catana's Marketing Company Adjusted Trial Balance End of the current Year Debit Credit Cash $ 1,390 Accounts receivable 2,400 Interest receivable 110 Prepaid insurance 1,620 Long-term notes receivable 2,970 Equipment 15,400 Accumulated depreciation $ 3,050 Accounts payable 2,320 Dividende payable 610 Accrued expenses payable 3,760 Income taxes payable 2,550 Unearned rent revenue 470 Common Stock (20 shares) 02 Additional paid in capital 3,540 Retained earnings 990 Sales revenue 38,440 Interest revenue 240 Rent revenue 750 Wages expense 20.000 Depreciation expense Utilities expense 230 Insurance expense 610 Rent expense 7,000 Income tax expense 2.620 Total 556.010 556.010 Prepare the closing entry at the end of the current year. (If no entry is required for a transaction/event, select "No journal entry Prev 1 of 7 !!! Next > Total Prepare the closing entry at the end of the current year. (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 Prev 1 of 7