The Sky Blue Corporation has the following adjusted trial balance at December 31.

	Debit			Credit
Cash	$	1,250
Accounts Receivable		2,200
Prepaid Insurance		2,500
Notes Receivable (long-term)		3,200
Equipment		13,000
Accumulated Depreciation				$	3,000
Accounts Payable					5,620
Salaries and Wages Payable					1,100
Income Taxes Payable					3,100
Unearned Revenue					640
Common Stock					2,600
Retained Earnings					1,080
Dividends		320
Sales Revenue					43,830
Rent Revenue					320
Salaries and Wages Expense		22,000
Depreciation Expense		1,500
Utilities Expense		4,420
Insurance Expense		1,600
Rent Expense		6,200
Income Tax Expense		3,100
Total	$	61,290		$	61,290

Prepare closing journal entries on December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

Record the closing entry for revenues and expenses. Record the closing entry for dividends.

Note: Enter debits before credits.