The Sky Blue Corporation has the following adjusted trial balance at becember 31 Credit Debit S1,250 Accounts Receivable Prepaid Insurance Notes Recelvable (long-term) Equipment 2,500 3,200 13,000 s 3,000 Accounts Payable Salaries and Wages Payable Income Taxes Payable Unearned Revenue Common Stock Retained Earnings 1,100 3,100 2,600 1,080 Sales Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Income Tax Expense 22,000 1,500 4,420 1,600 6,200 3,100 $61,290 $61,290 Prepare closing journal entries on December 31. (If no entry is required for a transactionevent, select No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the closing entry for revenues and expenses