Use the May 31 fiscal year-end information from the following ledger accounts (assume that all accounts have normal balances). Retained Earnings Date May 31 Dividends Date May 31 Services Revenue Date May 31 Depreciation Expense Date May 31 PR G2 PR G2 PR G2 PR G2 Debit Debit Debit Debit General Ledger Account Number 318 Salaries Expense Credit Balance 92,000 Date May 31 Account Number 319 Insurance Expense Credit Balance 66,000 Date May 31 Account Number 403 Rent Expense Credit Balance 162,104 Date May 31 Account Number 603 Income Summary Credit Balance 21,000 Date PR G2 PR G2 PR G2 PR Debit Debit Debit Debit Account Number 622 Credit Balance 46,000 Account Number 637 Credit Balance 5,460 Account Number 640 Credit Balance 11,520 Account Number 901 Balance Credit (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

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