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			88,000	May 31	G2			44,000
M. Muncel, Withdrawals	Account Number 302	Insurance Expense	Account Number 637
Date	PR	Debit	Credit	Balance	Date	PR	Debit	Credit	Balance
May 31	G2			62,000	May 31	G2			3,640
Services Revenue	Account Number 403	Rent Expense	Account Number 640
Date	PR	Debit	Credit	Balance	Date	PR	Debit	Credit	Balance
May 31	G2			155,056	May 31	G2			7,880
Depreciation Expense	Account Number 603	Income Summary	Account Number 901
Date	PR	Debit	Credit	Balance	Date	PR	Debit	Credit	Balance
May 31	G2			14,000

(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.