The adjusted trial balance for China Tea Company at December 31, 2021 is presented below: Accounts Cash Accounts receivable Prepaid rent Supplies Equipment Accumulated depreciation Accounts payable Debit $15,000 Credit 155,000 9,000 27,000 310,000 $128,000 18,000 Salaries payable Interest payable 3,300 1,500 Notes payable due in two years 23,000 Common stock 190,000 Retained earnings 86,800 Dividends 24,000 Service revenue 430,000 Salaries expense 186,000. Advertising expense 75,000 Rent expense 10,000 Depreciation expense 30,000 Interest expense 2,600 Utilities expense Totals 37,000 $880,600 $880,600 Prepare the closing entries for China Tea Company for the year ended December 31, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)