The adjusted trial balance for China Tea Company at December 31, 2021. is presented below: Credit Debit 18,500 150,000 5,000 25,000 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 125,000 30.000 30,000 4,000 9.000 200,000 50,000 8.000 400,000 180,000 120,000 15,000 30.oe 2.ee 2,500 848.000 848,000 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 2 3 > Record the entry to close the revenue accounts. Note: Enter debits before credits. Event General Journal Debit Credit 1 Record entry Clear entry View general journal The adjusted trial balance for China Tea Company at December 31, 2021. is presented below: Debit Credit Cash 10,500 Accounts receivable 150,000 Prepaid rent 5.000 Inventory 25.000 Equipment 300.000 Accumulated depreciation equipment 125,000 Accounts payable 30,000 Notes payable-due in three months Salaries payable 4,000 Interest payable 9,000 Common stock 200,000 Retained earnings 50.000 Dividends 8,000 Sales revenue 400,000 Costs of goods sold 180,000 Salaries expense 120.000 Rent expense 15,000 Depreciation expense 30,000 Interest expense 2,000 Advertising expense 2. SOO Totals 848,000 848.000 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 Record the entry to close the expense accounts. Note: Enter debits before credits. General Journal Debit Credit Event 2 Record entry Clear entry View general journal The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Credit Debit 10,500 15 5,000 25,000 300,000 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 125.000 30,000 30,000 4,000 9,000 200,000 50.000 8,000 400,000 188,888 120,000 15.000 30,000 2.000 2,500 848,000 848,000 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
