Required information [The following information applies to the questions displayed below.] The following adjusted trial balance at December 31 of Wilson Trucking Company. Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking revenue Depreciation expense-Trucks Salaries expense Office supplies expense Interest expense Totals Debit $ 8,000 Credit 17,500 3,000 172, 000 85,000 $ 36,000 12,000 4,000 58,000 30,000 140,000 20,000 130,000 23, 500 61,000 8,000 12,000 $ 410,000 $410,000 Prepare the closing entries for the year ended December 31. The Retained Earnings account balance was $140,000 at December 31 of the prior year. View transaction list View journal entry worksheet No 1 Date December 31 Trucking revenue General Journal Debit Credit 130,000 i 2 December 31 No Transaction Recorded 4 December 31 20,000