the sky blue corporation has the following adjusted trial balance at december 31.

M4-17 Recording Closing Journal Entries LO 4-5] The Sky Blue Corporation has the following adjusted trial balance at December 31. Debi 1,420 Cash Accounts Receivable 3,900 Prepaid Insurance 4.200 Notes Receivable (long-term 4,900 Equipment 21,500 Accumulated Depreciation 6,400 Accounts Payable 7,320 Salaries and Wages Payable 1,950 Income Taxes Payable 4.800 Unearned Revenue 980 Common Stock 4.300 Retained Earnings 1,760 Dividends 490 Sales Revenue 59,130 Rent Revenue 490 Salaries and Wages Expense 25,400 Depreciation Expense 3,200 Utilities Expense 6,120 Insurance Expense 3,300 Rent Expense 7,900 Income Tax Expense 4.800 Total $87,130 $87,130 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.) view transaction list view general journal Journal Entry Worksheet Record the closing entry for revenues and expenses. Debit credit General Journal Date transaction list 1. Record the closing entry for revenues and expenses. 2. Record the closing entry for dividends. ore credits ord entry journal entry has been entered

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