Retained Earnings Date PR Debit Credit Account Number 318 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 Balance Salaries Expense May 31 62 77,000 Date May 31 PR Debit Credit 62 38,500 Dividends Date May 31 Services Revenue PR Debit Account Number 319 Credit Balance Insurance Expense Account Number 637 Date PR Debit Credit Balance 62 44,000 May 31 62 3,640 Account Number 403 Rent Expense Account Number 640 Date PR May 31 02 26 Debit Credit Balance Date PR Debit Credit 135,674 May 31 62 Balance 7,880 Depreciation Expense Account Number 603 Date PR Debit Credit Balance Income Summary Date Account Number 901 PR Debit Credit Balance May 31 62 14,000 (e) 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. 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 PR Debit Credit G2 PR Debit Credit Use the May 31 fiscal year-end information from the following ledger accounts (assume that all account Retained Earnings Date May 31 Dividends Date General Ledger Account Number 318 Salaries Expense Balance 77,000 Date May 31 PR Debi 62 Account Number 319 Insurance Expense Balance Date PR Debit May 31 G2 44,000 May 31 62 Services Revenue Account Number 403 Rent Expense Date PR Debit Credit Balance Date PR Debit May 31 G2 135,674 May 31 G2 Depreciation Expense Account Number 603 Income Summary Date PR Debit Credit Balance Date PR Debit May 31 62 14,000 (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 numb 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. View transaction list A Record the entry to close revenue accounts. Record the entry to close expense accounts. C Record the entry to close income summary account. D Record the entry to close the dividends account. X Credit > plete this questions by entering your answers in the tabs below. Required A Required B Post the entries from Requirement (a) to the General Ledger accounts below. Use the transaction number from Requirement (a) as the date. 318: Retained Earnings Date May 31 Debit Credit Balance Date 622: Salaries Expense Debit Credit Balance 77.000 May 31 38,500 Date 319: Dividends. Debit Credit Balance Date 637: Insurance Expense Debit Credit Balance May 31 44,000 May 311 3,640 Date May 31 May 31 Date 403: Services Revenue Debit Credit Balance Date 640: Rent Expense Debit Credit Balance 135,674 May 31 7.880 603: Depreciation Expense Debit Credit Balance Date 14.000 901: Income Summary Debit Credit Balance