The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below.

Accounts	Debit				Credit
Cash	$	11,200
Accounts Receivable		142,000
Prepaid Rent		5,200
Supplies		26,000
Equipment		320,000
Accumulated Depreciation					$	127,000
Accounts Payable						11,200
Salaries Payable						10,200
Interest Payable						4,200
Notes Payable (due in two years)						32,000
Common Stock						220,000
Retained Earnings						52,000
Service Revenue						420,000
Salaries Expense		320,000
Rent Expense		16,000
Depreciation Expense		32,000
Interest Expense		4,200
Totals	$	876,600			$	876,600

Required:

1. Record the necessary closing entries at December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)