Use the May 31 fiscal year-end information from the following ledger accounts (assume that all accounts have normal balances) General Ledger Acct. No. 301 Debit Credit Balance Salaries Expense Acct. No. 622 PR Debit Credit Balance M. Muncel, Capital Date Date May 31 PR G2 40,000 May 31 G2 20,000 M. Muncel, nsurance Acct. No. 302 Acct. No. 637 Withdrawals Expense Date May 31 Debit Credit Balance Date May 31 PR Debit Credit Balance 22,000 PR G2 G2 4,400 Services Revenue Acct. No. 401 Debit Credit Balance 76,000 Acct. No. 640 PR Debit Credit Balance Rent Expense Date May 31 PR G2 Date May 31 G2 8,400 Depreciation Expense Acct. No. 683 Income Summary Date May 31 PR Debit Credit Balance Date Acct. No. 901 PR Debit Credit Balance G2 15,000 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 Requirement 1 as the date PR Debit Credit BalanceDate G2 PR Debit Credit Balance Date May 31 15,000 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 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 Journal entry worksheet 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 Requirement 1 as the date abs below Complete this questions by entering your answers in the t Required 1Required 2 Post the entries from Requirement 1 to the General Ledger accounts below. Use the transaction number from Requirement 1 as the date. 301: M. Muncel, Capital Debit 622: Salaries Expense Debit Date Credit Balance Date CreditBalance May 31 40,000May 31 20,000 302: M. Muncel, Withdrawals 637: Insurance Expense Date Debit Credit Balance Date Debit Credit Balance May 31 22,000 May 31 ,400