business Loans Study pa Use the May 31 fiscal year-end information from the following ledger accounts (assume that all accounts have normal balances). M. Hammad, Capital Date May 31 G2 General Ledger Acct. No. 301 Salaries Expense Credit Balance Date PR 94,000 May 31 PR Debit Debit Acct. No. 622 Credit Balance 47,000 M. Hammad, Withdrawals Date May 31 PR Debit Acct. No. 302 Credit Balance 61,000 Insurance Expense Date PR May 31G2 Debit Acct. No. 637 Credit Balance 3,900 Services Revenue Date PR May 31 G2 Debit Acct. No. 401 Credit Balance 165,628 Rent Expense Date May 31 PR Debit Acct. No. 640 Credit Balance 8,400 G2 Depreciation Expense Date PR May 31 G2 Acct. No. 603 Credit Balance 15,000 Income Summary Date PR Acct. No. 901 Debit Credit Balance Debit Prepare closing journal entries from the above ledger accounts. View transaction list Journal entry worksheet