Check my work Use the May 31 fiscal year-end information from the following ledger accounts (assume that all accounts have normal balances). M. Muncel, Capital PR May 31 G2 General Ledger Acct. No. 301 Salaries Expense Credit Balance Date PR 40,000 May 31 G2 Date Debit Acct. No. 622 Debit Credit Balance 20,000 M. Muncel, Withdrawals Date PR May 31 G2 Debit Acct. No. 302 Credit Balance 22,000 Insurance Expense Date PR May 31 G2 Acct. No. 637 Debit Credit Balance 4,400 Services Revenue Date Debit PR G2 Acct. No. 401 Credit Balance 76,000 Rent Expense Date May 31 Debit Acct. No. 640 Credit Balance 8, 400 PR G2 May 31 Depreciation Expense Date PR May 31 G2 Debit Acct. No. 603 Credit Balance 15,000 Income Summary Date PR Acct. No. 901 Credit Balance Debit 1. Prepare closing journal entries from the above ledger accounts. 2. Post the entries from Requirement 1 to the General Ledger accounts below. Use the transaction number from Requirement 1 as the date