Required information. [The following information applies to the questions displayed below.] The Sky Blue Corporation has the following adjusted trial balance at December 31. Cash Prepaid Insurance Accounts Receivable Notes Receivable (long-term) Equipment Accumulated Depreciation Accounts Payable Debit $ 1,230 Credit 2,000 2,300 3,000 12,000 $ 2,600 5,420 Salaries and Wages Payable Income Taxes Payable Deferred Revenue 1,000 2,900 600 Common Stock 2,400 Retained Earnings 1,000 Dividends 300 Sales Revenue Rent Revenue 42,030 300 Salaries and Wages Expense 21,600 Depreciation Expense 1,300 Utilities Expense 4,220 Insurance Expense 1,400 Rent Expense 6,000 Income Tax Expense Total 2,900 $ 58,250 $ 58,250 Required: Prepare closing journal entries on December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet < 1 2 Record the closing entry for revenues and expenses. Note: Enter debits before credits. Date December 31 General Journal Debit Credit View general journal Record entry Clear entry Journal entry worksheet < 1 Record the closing entry for dividends. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general journal