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The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Credit Debit 12,300 168,000 6,800 43,000 480,000 Cash Accounts receivable
The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Credit Debit 12,300 168,000 6,800 43,000 480,000 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 143,000 48,000 48,000 5,800 19,800 290,000 89,600 17,000 580,000 270,000 138,000 33,000 48,000 3,800 4,300 1,224,200 1,224,200 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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