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Save & EX Sub American Chip Corporation's reporting year end is December 31 The following is a partial adjusted trial balance as of December 2021 3,000 780,000 Account Retained earning Sales revenue Interest revenue Cost of goods old Salaries open Hent sense Depreciation expense Tinterest Insurance pense 435,000 150,00 10.000 33,000 9.00 Required: Prepare the necessary closing entries at December 31, 2021. of no entry is required for a trononction/event, select "No journal entry required" in the first account field.) View transaction list 1 Record the entry to close the revenue accounts 2 Record the entry to close the expense accounts 18 Next > American Chip Corporation's reporting year-end is December 31. The following is a partial adjusted trial balance as of December 31, 2021. Debits Credits 83,000 780,000 4,500 Account Title Retained earnings Sales revenue Interest revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Insurance expense 435,000 130,000 18,000 33,000 5,300 6,300 Required: Prepare the necessary closing entries at December 31, 2021. (If no entry required for a transaction/event, select "No journal entry required" in th first account field.) View transaction list X *** 1 Record the entry to close the revenue accounts. 2 Record the entry to close the expense accounts

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