(a) complete closing journal entries from the above ledger accounts.

(b) Post the entries from Requirement (a) to the General Ledger accounts below. Use the transaction number from Requirement (a) as the date.

Post the entries from Requirement (a) to the General Ledger accounts below. Use the transaction number from Requirement (a) as the date.

301: M. Muncel, Capital		622: Salaries Expense
Date	Debit	Credit	Balance	Date	Debit	Credit	Balance
May 31			40,000	May 31			20,000
			0				0
			0				0
302: M. Muncel, Withdrawals	637: Insurance Expense
Date	Debit	Credit	Balance	Date	Debit	Credit	Balance
May 31			22,000	May 31			4,400
			0				0
			0				0
403: Services Revenue	640: Rent Expense
Date	Debit	Credit	Balance	Date	Debit	Credit	Balance
May 31			76,000	May 31			8,400
			0				0
			0				0
603: Depreciation Expense	901: Income Summary
Date	Debit	Credit	Balance	Date	Debit	Credit	Balance
May 31			15,000
			0
			0