need help with closing entries:

During 2021, the following transactions occurred:

Jan. 1 Issued common stock in exchange for $20,000 cash.

Jan. 31 Rent payment of $1,250 for January 2021, which was paid on December 1, 2020, expires

Feb. 15 Purchased inventory on account for $80,000 (the perpetual inventory system is used).

Mar. 1 Lent a supplier $24,000 and a note was signed requiring principal and interest at 8% to be paid on February 28, 2022.

Apr. 1 Paid an insurance company $9,000 for a one-year fire insurance policy.

Apr. 20 Paid $60,000 to suppliers for the merchandise purchased in 2020 and on February 15, 2021.

July 1 Received a $4,500 invoice from the local newspaper requesting payment for an advertisement that Patina placed. Check was sent on the same day.

July 8 Purchased supplies with $4,400 cash.

Oct 1 Borrowed $60,000 from a local bank and signed a note. The note requires interest to be paid annually on September 30 at 12%. The principal is due in 10 years.

Feb~Nov Paid rent for $1,250 each month

Dec 1 $2,500 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022 at $1,250 per month.

Dec 1 A customer paid Pastina $3,500 in December for 1,500 pounds of spaghetti to be delivered in January 2022.

Dec 15 $7,000 in cash dividends were paid to shareholders.

Jan 7~Dec 22 2 Paid salaries $21,900 in cash, including salaries of $1,500 accrued from December 16 through December 31, 2020, and $20,400 for up to December 15, 2021.

Jan~Dec Sold pasta on account for $161,000. The cost of the pasta was $85,000.

Jan~Dec Collected $140,000 on account from customers.

Jan~Dec Paid $8,000 in total to the local utility company for gas and electricity.

Dec 31 Depreciation on the office equipment for the year is $11,500.

Dec 31 $920 of supplies remained on hand at December 31, 2021.

Dec 31 Employee salaries are paid twice a month, on the 22nd for salaries earned from the 1st through the 15th, and on the 7th of the following month for salaries earned from the 16th through the end of the month. Salaries earned from December 16 through December 31, 2021, were $1,550.