Help Save & Exit Submit Check my work Retained Earnings Date PR Debit Account Number 318 Credit Balance Use the May 31 fiscal year-end information from the following ledger accounts (assume that all accounts have normal balances), General Ledger Account Number 622 Credit Balance Salaries Expense May 31 G2 82,000 Date May 31 PR Debit G2 41,000 Dividends Date Account Number 319 Insurance Expense Account Number 637 PR Debit Credit Balance Date PR Debit Credit Balance May 311 G2 54,000 May 31 G2 4,160 Services Revenue Account Number 403 Rent Expense Account Number 640 Date PR Debit Credit Balance Date PR Debit Credit Balance May 31 G2 144,484 Depreciation Expense Date May 31 PR G2 Debit Account Number 603 Credit May 31 Income Sunnary G2 8,920 Account Number 901 Balance Date PR Debit Credit Balance 16,000 (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 www.odoor accounts below. Use the transaction number from Requirement (a) as the date. May 31 May 311 May 311 Date Date Date Date May 31 318: Retained Earnings Debit 319: Dividends. Debit Credit Balance 82,000 0 0 May 311 Date Credit Balance Date 54,000 May 31 0 403: Services Revenue Debit 622: Salaries Expense Debit Check my work Credit Balance 41,000 0 0 637: Insurance Expense Debit Credit Balance 4,160 0 0 Credit Balance Date 640: Rent Expense Debit Credit Balance 144,484 May 311 8,920 0 0 0 0 603: Depreciation Expense Debit Date 901: Income Summary Debit Credit Balance Credit Balance 16,000 0 0