The Sky Blue Corporation has the following adjusted trial balance at December 31 Debit $ 1,430 4,000 4,300 5,000 22,000 Credit Cash Accounts Receivable Prepaid Insurance Notes Receivable (long-term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Taxes Payable Unearned Revenue Common Stock Retained Earnings Dividends Sales Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Income Tax Expense $ 6,600 7,420 2,000 4,900 1,000 4,400 1,800 500 60,030 500 25,600 3,300 6,220 3,400 8,000 4,900 Total $88,650 $88,650 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 Note: Enter debits before credits Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal