The year-end adjusted trial balance of the Timmons Tool and Die Corporation included the following account balances: retained earnings, $285,000; dividends, $38,000; sales revenue, $920,000; cost of goods sold, $620,000; salaries expense, $175,000; rent expense, $42,000; and interest expense, $28,000. 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 Record the entry to close the revenue accounts using the retained earnings account. 2 Record the entry to close the expense accounts using the retained earnings account. 3 Record the entry to close the dividends account