M4-13 (Algo) Recording a Closing Entry LO4-4 Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $580 were declared at the end of the year, and 520 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $3,000 in cash (for a total at the end of the year of 820 shares). These effects are included below: Catena's Marketing Company Adjusted Trial Balance End of the Current Year Debit Credit Cash $ 1,340 Accounts receivable 2,270 Interest receivable 150 Prepaid insurance 1,610 Long-term notes receivable 2,830 Equipment 15,600 Accumulated depreciation Accounts payable $ 3,110 2,330 Dividends payable Accrued expenses payable 580 3,830 Income taxes payable Unearned rent revenue Common Stock (820 shares) Additional paid-in capital Retained earnings Sales revenue 2,690 420 82 3,448 1,940 38,220 Interest revenue 210 Rent revenue 760 Wages expense 19,600 Depreciation expense 1,730 Utilities expense 280 Insurance expense 680 Rent expense Income tax expense Total 8,800 2,730 $57,620 $57,620 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 1 Record the closing entry at the end of the current year. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal