Skysong Inc

Skysong Inc. has recorded all necessary adjusting entries, except for income tax expense, at its fiscal year end, July 31, 2021. The following information has been taken from the adjusted trial balance:

Accounts payable     $23,500

Interest expense        $5,700

Cash dividends—common     $64,000

Notes payable                 $103,000

Common shares              $209,000

Retained earnings (Aug. 1, 2020)     $329,300

Cost of goods sold                            $308,500

Salaries expense                              $129,500

Dividends payable                            $14,700

Sales                                                $659,500

Income tax expense                         $26,000

Supplies expense                            $11,500

Income tax payable                         $2,700

Unearned revenue                           $11,500

All accounts have normal balances and total assets equal $808,000. Skysong has a 20% income tax rate.

Prepare closing journal entries?