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Use the May 31 fiscal year-end information from the following ledger accounts (assume that all accounts have normal balances). General Ledger M. Muncol, Capital Acct.

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Use the May 31 fiscal year-end information from the following ledger accounts (assume that all accounts have normal balances). General Ledger M. Muncol, Capital Acct. No. 301 salaries pense Acet. No. 622 Date PR Debit Credit Balance Date PA Debit Credit Balance May 31 G2 92,000 May 31 G2 46,000 M. Muncel, Withdrawali Neet. No. 302 Trance Expense Acet. No. 637 Date PR Debit Credit Balance Date PR May 31 Debit Credit Balance G2 62,000 May 31 62 5,200 Services Revenue Meet. No. 401 Rent Expense Acet. No. 640 Date PR Debit Credit Balance Date Debit Credit Balance May 31 162, 104 May 31 G2 11,000 Depreciation Expenne Acet. No. 603 Income Summary Acct. No. 901 Date PR Debit Credit Balance Date PR Debit Credit Balance May 31 G2 20,000 w 1. Prepare closing journal entries from the above ledger accounts. 2. Post the entries from Requirement to the General Ledger accounts below. Use the transaction number from Requirement as the date. Complete this questions by entering your answers in the tabs below. Required: Required 2 Prepare closing journal entries from the above ledger accounts View transaction list

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