The adjusted trial balance for China Tea Company at December 31, 2021 is presented below. Accounts Cash Accounts receivable Prepaid rent Debit $15,000 161,000 7,000 Credit Supplies Equipment 2:26 Accumulated depreciation Accounts payable 28,000 350,000 $133,000 15,000 Salaries payable Interest payable Notes payable due in two years 3,100 1,800 23,000 Common stock 190,000 Retained earnings 99,800 Dividends 28,000 Service revenue 480,000 Salaries expense 182,000 Advertising expense 76,000 Rent expense 17,000 Depreciation expense 38,000 Interest expense 2,700 Utilities expense Totals 41,000 $945,700 $945,700 Prepare the closing entries for China Tea Company for the year ended December 31, 2021. (If no entry is transaction/event, select "No journal entry required" in the first account field.)