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

General Ledger
M. Muncel, Capital			Account Number 301		Salaries Expense			Account Number 622
Dated	PR	Debit	Credit	Balance	Date	PR	Debit	Credit	Balance
May 31	G2			76,000	May 31	G2			38,000
M. Muncel, Withdrawals			Account Number 302		Insurance Expense			Account Number 637
Date	PR	Debit	Credit	Balance	Date	PR	Debit	Credit	Balance
May 31	G2			45,000	May 31	G2			5,460
Services Revenue			Account Number 403		Rent Expense			Account Number 640
Date	PR	Debit	Credit	Balance	Date	PR	Debit	Credit	Balance
May 31	G2			133,912	May 31	G2			11,520
Depreciation Expense			Account Number 603		Income Summary			Account Number 901
Date	PR	Debit	Credit	Balance	Date	PR	Debit	Credit	Balance
May 31	G2			21,000

(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.