Record closing entry to transfer the profit to Retained earnings. Note: Enter debits before credits. Transaction d-2. General Journal Debit Credit View general journ Record entry Clear entry Record closing entry to transfer revenues and expenses to income summary. Note: Enter debits before credits. Transaction d-1. General Journal Debit Credit 1. Prepare the journal entries to record each of these transactions and to close the accounts. (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 2 3 4 5 Record sale and issue of 64,500 common shares at $11 per share. Note: Enter debits before credits. General Journal Debit Credit 473,000 189,200 47,300 709,500 Transaction a. Cash Land Building Common shares