Bob Night opened "The General's Favorite Fishing Hole." The fishing camp is open from April through September and attracts many famous college basketball coaches during the off-season. Guests typically register for one week, arriving on Sunday afternoon and returning home the following Saturday afternoon. The registration fee includes room and board, the use of fishing boats, and professional instruction in fishing techniques.

Net income for May was $61,810.

Ledger balances for The General's Favorite Fishing Hole at the end of May, after adjusting entries, are as follow:

Account Title	Acct.No.	Balances
Accounts Payable	202	$75,525
Accounts Receivable	122	30
Accumulated Depreciation-Big Screen TV	183.1	75
Accumulated Depreciation-Buildings	171.1	800
Accumulated Depreciation-Fishing Boats	181.1	2,150
Accumulated Depreciation-Surround Sound System	182.1	60
Advertising Expense	512	4,300
Big Screen TV	183	8,000
Bob Night, Capital	311	738,250
Bob Night, Drawing	312	7,500
Buildings	171	530,000
Cash	101	154,355
Depreciation Expense-Big Screen TV	543	75
Depreciation Expense-Buildings	540	800
Depreciation Expense-Fishing Boats	542	1,150
Depreciation Expense-Surround Sound System	541	60
Fishing Boats	181	69,000
Food Supplies	144	5,925
Food Supplies Expense	524	57,750
Insurance Expense	535	2,500
Land	161	100,000
Office Supplies	142	150
Office Supplies Expense	523	1,050
Phone Expense	525	1,800
Prepaid Insurance	145	6,000
Prepaid Subscriptions	146	110
Registration Fees	401	240,850
Rent Expense	521	40,000
Repair Expense	537	850
Satellite Programming Expense	546	125
Subscriptions Expense	548	10
Surround Sound System	182	3,600
Utilities Expense	533	3,300
Vending Commission Revenue	404	230
Wages Expense	511	65,500
Wages Payable	219	6,000

10. Journalize the closing entries on page 9 of the general journal. If an amount box does not require an entry, leave it blank. Do not enter the posting references until you complete part 11.

GENERAL JOURNAL				PAGE 9
DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT
20--
May 31
May 31
May 31
May 31

11. Post the closing entries to the general ledger. If an amount box does not require an entry, leave it blank. After posting to the general ledger, go to part 10 and complete the posting.