please solve both required parts and name it neet please, also part 1 should be correct

1 Use the May 31 fiscal year-end information from the following ledger accounts (assume that all accounts have normal balances) 40 points M. Muncel, Capital Date May 31 General Ledger Acct. No. 30 Salaries Expense Debit Credit Balance Date n 89,000 G2 PR G2 Acct. No. 622 Debit Credit Balance 44.500 8 02.06.29 May 11 M. Muncel, withdrawals Data PR May 31 G2 Acct. No. 392 Debit Credit Balance 55,000 Insurance Expense Date PR May 31 Debit Acct. No. 637 Credit Balance 4.680 Rent Expense eBook Services Revenue Date May 31 PR G2 Acct. No. 401 Debit Credit Balance 156,818 Date May 31 PR 02 Acct. No. 640 Debit Credit Balance 9,900 Hirit Depreciation Expense Date PR 02 Acct. No. 603 Debit Credit Balance 18,000 Income Summary Date PR Acct. No. 901 Debit Credit Balance May 31 1. Prepare closing joumal entries from the above ledger accounts 2. Post the entries from Requirement to the General Ledger accounts below Use the transaction number from Requirement 1 as the date Complete this questions by entering your answers in the tabs below. Required 1 Required 2 Prepare closing journal entries from the above ledger accounts. View transaction list View journal entry worksheet NO Transaction General Journal Credit Debit 156,818 1 1 Services revenue Income summary 155,318 2 2 77,140 Income summary Depreciation expense Calatanance 16.000 dia Complete this questions by entering your answers in the tabs below. Required 1 Required 2 Prepare closing journal entries from the above ledger accounts. X View transaction list View journal entry worksheet SHER No Transaction General Journal Credit Debit 156,818 1 Services revenue Income summary 156,818 2 2 77.140 Income summary Depreciation expense Salaries expense Insurance expense Rent expense 18,000 44,500 4,680 9,960 3 3 79,678 Income summary M. Muncel Capital 79,678 4 4 55,000 M. Muncel Capital M Muncel, Withdrawals 55,000 Required 2 > May 31 G2 18,000 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 Requiremen date. Complete this questions by entering your answers in the tabs below. Required 1 Required 2 Post the entries from Requirement 1 to the General Ledger accounts below. Use the transaction number from Requirement 1 asti 301: M. Muncel, Capital Debit Credit Date Balance 89.000 622: Salaries Expense Dobit Credit Balance May 31 Date May 31 79,678 44.500 0 168,678 44,500 0 0 302: M. Muncel, Withdrawals Debit Credit 637: Insurance Expense Debit Credit Date Date May 31 Balance 55,000 0 0 May 31 Balance 4.680 55,000 4.680 0 401: Services Revenue Debit Credit 640: Rent Expense Debit Credit Date May 31 Balance 156 818 0 Date May 31 Balance 9.960 0 156.818 9.960 0 0 603: Depreciation Expense Debit Credit Date May 31 Dato 901: Income Summary Debit Credit 18.000 Balance 18.000 0 0 Balance (18.000) 18,000