Transaction list:

• 1

  Record the entry to close the revenue accounts.

• 2

  Record the entry to close the expense accounts.

The December 31, Year 1. adjusted trial balance for a company is presented below. Credit Debit $ 11,680 146,eee 5,600 28,888 360, eee Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Totals $131,000 11,600 10,600 4,600 36, eee 260,000 56,000 460, eee 360, eee 18,080 36,080 4,680 $969,800 $969,800 Exercise 3-19B Part 1 Required: 1. Record the necessary closing entries at December 31, Year 1. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" In the first account field.) View transaction list Journal entry worksheet Record the entry to close the revenue accounts. Note: Enter debits before credits. Date General Journal Debit Credit December 31, Year 1 Record entry Clear entry View general journal