Use the May $31$ fiscal year$-$end information from the following ledger accounts $($assume that all accounts have normal balances$).$

General Ledger

Retained Earnings Account Number $318$ Salaries Expense Account Number $622$

Date PR Debit Credit Balance Date PR Debit Credit Balance

May $31$ G$240,000$ May $31$ G$220,000$

Dividends Account Number $319$ Insurance Expense Account Number $637$

Date PR Debit Credit Balance Date PR Debit Credit Balance

May $31$ G$222,000$ May $31$ G$24,400$

Services Revenue Account Number $403$ Rent Expense Account Number $640$

Date PR Debit Credit Balance Date PR Debit Credit Balance

May $31$ G$276,000$ May $31$ G$28,400$

Depreciation Expense Account Number $603$ Income Summary Account Number $901$

Date PR Debit Credit Balance Date PR Debit Credit Balance

May $31$ G$215,000$

$($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.