The following select accounts and balances are given for Citadel Ltd. at year end, December 31, 2020. All account balances are normal balances: Account title Balance Consulting revenue 90,000 Prepaid insurance 8,000 Insurance expense 1,800 Salaries expense 20,000 Salaries payable Dividends declared 28,000 3,000 40,000 18,000 Other operating expenses Retained earnings (January 1, 2020) Prepare closing entries for Citadel Ltd. on December 31, 2020. Date Account Name Debit Credit