Check my work 1 Exercise 4-8 Preparing and posting closing entries LO P2 Use the May 31 fiscal year-end information from the following ledger accounts (assume that all accounts have normal balances). ointe Ganaral Ladger 02:2943 Salaries Expense duncel, pitaL 622 -d Debit mebi+ PR 31 G2 01,000 31 G2 40.500 Skpped Withdrawale . Insursne Expenee d . Debit Debit y 31 47,000 21 4160 rv c Rant Expanse 640 401 PE Dabit Debit A, 920 31 142,722 31 Summa PR Depreciation Expenee Incone 901 Cradi Debit pebit dnt 3: 16,000 1. Prepare closing journal entries from the above ledger accounts. Dufurences the entries from Requirement 1 to the General Ledger accounts below. Use the transaction number from Requirement 1 as the date. Complete this questions entering your answers in the tabs below. Required 1 Rogulred 2 Prepare closing journal entries from above ledger accounts View transsction list Journal entry worksheet 4 Record the entry to close revenue accounts. Check my work 1 Exercise 4-8 Preparing and posting closing entries LO P2 1 fiscal year-end information from the following ledger accounts (assume that a laccounts have normal balances) Use the Ma nts Ceneral Ledgar 0229:33 H.Nuncel, Capsta: alaraa Expenaa . d Credte Credte Dabit Debit May 31 81, D00 May 31 40,500 Sipped M. Muncel, Withdrauals Iaurane xpen Credi Debit Cebit May 31 47,000 May 31 4,160 Services Revenue Rent Expen red Book Credi Debit Debit 142,722 May 31 May 31 0.920 Depreciatioa Expease Income Sunmary Creds la Debit Debit Prie May 32 16, D00 1. Prepare closlng joumal entres from the above ledger aCcouns Requirement 1 to Dularence eneral Ledger accounts below. Use the transaction number from Requirement 1 as the date. Complete this questions by entering your answers in the tabs below. Bequired 2 Required Post the entries from Requirement 1 to the General Ledger accounts below. Use the transaction number from Requirement l as the date. 301: M. Muncel, Capital 622: Salaries Expense Debit Credit Date Debit Credit Date Balance Balance May 31 May 3 81.000 40.500 637: Insurance Expense 302: . Muncel, Withdrawals Cradit Balanc Cradit Date Debit Date Dobit Balanc Mi 31 May on 160