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The adjusted trial balance for China Tea Company at December 31, 2021. is presented below Cash Accounts receivable Prepaid rent Inventory Equipment Accumulated depreciation-equipment Accounts
The adjusted trial balance for China Tea Company at December 31, 2021. is presented below 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 Dividends Sales revenue Costs of goods sold Salaries expense Rent expense Depreciation expense Interest expense Advertising expense Totals Debit Credit 10,900 154,000 5,400 29,000 340,000 129,000 34,000 34,000 4,400 11,400 220,000 58,888 10,000 440,000 280,000 124,000 19,000 34,000 2,400 2,900 931,600 931,600 Required: 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.) View transaction list Journal entry worksheet
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