The Sky Blue Corporation has the following adjusted trial balance at December 31. Debit Credit Cash $ 1,280 Accounts Receivable 2,500 Prepaid Insurance 2,800 Notes Receivable (long-term) 3,500 Equipment 14,500 Accumulated Depreciation $ 3,600 Accounts Payable 5,920 Salaries and Wages Payable 1,250 Income Taxes Payable 3,400 Deferred Revenue 700 Common Stock 2,900 Retained Earnings 1,200 Dividends 350 Sales Revenue 46,530 Rent Revenue 350 Salaries and Wages Expense 22,600

Record the closing entry for revenues and expenses

Record the closing entry for dividends