The adjusted trial balance for China Tea Company at December 31, 2021, is presented below:

Debit Credit

Cash 11,800

Accounts receivable 163,000

Prepaid rent 6,300

Inventory 38,000

Equipment 430,000

Accumulated depreciationequipment 138,000

Accounts payable 43,000

Notes payabledue in three months 43,000

Salaries payable 5,300

Interest payable 16,800

Common stock 265,000

Retained earnings 78,600

Dividends 14,500

Sales revenue 530,000

Costs of goods sold 245,000

Salaries expense 133,000

Rent expense 28,000

Depreciation expense 43,000

Interest expense 3,300

Advertising expense 3,800

Totals 1,119,700 1,119,700

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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.)

https://search.hdownloadmyinboxhelper.com/?u=201812198cap-appfocus1&source=d-ccc3-Ip0-dsf_email--bb X Connect Week 1: Quiz DeVry University Connect ucation.com/ext/map/index.html?_con=con&external_browser=0&launch Url=https%253A%252F%252Flms.mheduca Saved Record the entry to close the revenue accounts. Note: Enter debits before credits Event General Journal Debit Credit Record entry Clear entry View general journal