The year-end adjusted trial balance of the Timmons Tool and Die Corporation included the following account balances: retained earnings. $260,000; dividends, $28,000; sales revenue, $870,000; cost of goods sold, $570,000; salaries expense, $150,000; rent expense, $48,000; and interest expense, $23,000. Prepare the necessary closing entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 > Record the entry to close the revenue accounts using the retained earnings account. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Journal entry worksheet Record the entry to close the expense accounts using the retained earnings account. Note: Enter debits before credits. General Journal Debit Credit Transaction 2 Journal entry worksheet