The following listing shows all of the account balances taken from the adjusted trial balance of Cox Corporation at Dec. 31, 2021, right before calculating the income tax expense adjusting entry: Cox Corporation Trial Balance December 31 2021 Accounts Receivable $ 5,500 Accounts Payable 3,250 Accumulated Depreciation-Equipment 1,350 Advertising Expense 585 Cash 4,735 Common Stock 2,475 Cost of Goods Sold 5,000 Dividends Declared 3375 Equipment 7,470 Inventory 2,500 Notes Payable 4,500 Prepaid Insurance Expense 1,350 Rent expense 1,095 Retained Earnings (Jan 1, 2021) 1,350 Time left Rent expense 1,095 Retained Earnings (Jan 1, 2021) 1,350 Sales Revenue 19,350 Unearned Revenue 2,690 Wage Expense 3,355 Required: Assume income tax rate of 40% of pretax income, Determine whether an adjusting entry is required on 12.31.2021 Fill in the drop-down spaces below to record the correct entry choose 'None if no entry is necessary Answer We would have to DEBIT and CREDIT amount of