Dated PR Debit Account Number 301 Credit Balance Use the May 31 fiscal year-end information from the following ledger accounts (assume that all accounts have normal balances). M. Muncel, Capital General Ledger Account Number 622 Credit Salaries Expense Date PR Debit Balance May 31 G2 78,000 May 31 G2 39,000 M. Muncel, Withdrawals Account Number 302 Insurance Expense Date PR Debit Credit Balance Date PR Debit Account Number 637 Credit Balance May 31 G2 48,000 May 31 G2 4,420 Services Revenue Account Number 403 Rent Expense. Account Number 640 Date PR Debit Credit Balance Date PR Debit Credit Balance May 31 G2 137,436 May 31 G2 9,440 Depreciation Expense Account Number 603 Date PR Debit Credit Balance Income Summary Date Account Number 901 PR Debit Credit Balance May 31 G2 17,000 (a) Prepare 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. Complete this questions by entering your answers in the tabs below. Required A Required B Prepare closing journal entries from the above ledger accounts. Date May 31 301: M. Muncel, Capital Debit Date May 31 Date May 311 May 311 Date Credit Balance Date 78,000 May 31 0 0 302: M. Muncel, Withdrawals Debit Credit Balance Dato 48,000 May 31 0 0 403: Services Revenue Debit Credit Balance Date 137,436 May 311 0 0 603: Depreciation Expense Debit Credit Balance 17,000 0 Date 622: Salaries Expense Debit Credit Balance 39,000 0 0 637: Insurance Expense Debit Credit Balance 4,420 0 0 640: Rent Expense Debit Credit Balance 9,440 0 0 901: Income Summary Debit Credit Balance Prepare closing journal entries from the above ledger accounts. View transaction list Journal entry worksheet A B C D Record the entry to close revenue accounts. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal