The adjusted trial balance for Abdoula Company at December $31,2024$ is presented below:

Accounts Debit Credit

Cash $ $11,000$

Accounts receivable $169,000$

Prepaid rent $6,000$

Supplies $25,000$

Equipment $320,000$

Accumulated depreciation $ $132,000$

Accounts payable $10,000$

Salaries payable $3,700$

Interest payable $1,500$

Notes payable $-$ due in two years $27,000$

Common stock $170,000$

Retained earnings $76,000$

Dividends $22,000$

Service revenue $480,000$

Salaries expense $186,000$

Advertising expense $73,000$

Rent expense $16,000$

Depreciation expense $32,000$

Interest expense $2,200$

Utilities expense $38,000$

Totals $ $900,200$ $ $900,200$

Prepare the closing entries for Abdoula Company for the year ended December $31,2024.($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.$)$