Parts 8-10 Note: You must complete parts 1, 2, 3, 4, 6, 7 and before completing part 9 Part 5 is optional Part 9: Prepare the closing entries below. Then, using the attached spreadsheet from part 2. post the entries to your general ledger. If an amount box does not require an entry, leave it blank Post. Ref. Debit Credit 41 40,000 0 Date Account Name 20Y Closing Entries May 31 lees Earned Salary Fxpense Rent Express Sunglin Depreciation 51 0 1,705 52 o 1,600 53 0 1,370 54 07 330 55 0 275 Insurance Expense Miscellaneous 59 O 1,295 Retained Famingo 33,425 May 31 Retained amings Dividades 10,500 o 10,500 My Wos In preparing closing entries, recall that (1) revenue accounts are dested for their ances and expense accounts are credited for their balances. The difference between the revenue and expenses is either created tremus excred expenses or debited forenses esc) to the reared caringe scout, and (2) the retained earnings account is debited for the balance of the dividends account Next > Check My Work Factor Save and Subri Aasynment for Grading Parts 8-10 Note: You must complete parts 1, 2, 3, 4, 6, 7 and before completing part 9 Part 5 is optional Part 9: Prepare the closing entries below. Then, using the attached spreadsheet from part 2. post the entries to your general ledger. If an amount box does not require an entry, leave it blank Post. Ref. Debit Credit 41 40,000 0 Date Account Name 20Y Closing Entries May 31 lees Earned Salary Fxpense Rent Express Sunglin Depreciation 51 0 1,705 52 o 1,600 53 0 1,370 54 07 330 55 0 275 Insurance Expense Miscellaneous 59 O 1,295 Retained Famingo 33,425 May 31 Retained amings Dividades 10,500 o 10,500 My Wos In preparing closing entries, recall that (1) revenue accounts are dested for their ances and expense accounts are credited for their balances. The difference between the revenue and expenses is either created tremus excred expenses or debited forenses esc) to the reared caringe scout, and (2) the retained earnings account is debited for the balance of the dividends account Next > Check My Work Factor Save and Subri Aasynment for Grading