The adjusted trial balance for China Tea Company at December 31, 2018, is presented below. Credit Debit 10,700 152,000 5,200 27,000 320,000 127,000 32,000 32,090 Cash Accounts receivable Prepaid rent Inventory Equipment Accumulated depreciation - equipment Accounts payable Notes payable - due in three months Salaries payable Interest payable Common stock Retained earnings Sales revenue Costs of goods sold Salaries expense Rent expense Depreciation expense Interest expense Advertising expense Totals 4.200 1,200 210,000 54,400 420,000 190,000 122,000 17,000 32,000 2,200 2,700 880,800 880,800 Required: Prepare the closing entries for China Tea Company for the year ended December 31, 2018. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet