Use the May 31 fiscal year-end information from the following ledger accounts (assume that all accounts have normal balonces). General Ledger M. Muncel, Capital Date May 31 PR Acct. No. 381 Debit Credit Balance 85,00 Salaries Expense Date PR May 31 AcctNo. 622 Debit Credit Balance 42, see M. Muncel, Withdrawals Date PR May 31 Acct. No. 382 Credit Balance 62,888 Insurance Expense Date PR Debit Acct. No. 637 Debit Credit Balance 3,640 Services Revenue Date PR Acct. No. 481 Debit Credit Balance 149.770 Rent Expense Date May 31 PR Acct. No648 Debit Credit Balance 7.888 May 31 Depreciation Expense Date PR May 31 Acct. No. 683 Debit Credit Balance 14,888 Incone Summary Date PR Act No. 991 Debit Credit Balance 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 above ledger accounts. View transaction ist Journal entry worksheet Record the entry to close revenue accounts. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general Journal Required 2 > 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 Date May 31 PR Acct. No. 301 Debit Credit Balance 85.ee Salaries Expense Date PR May 31 Acct. No. 622 Debit Credit Balance 42, see M. Muncel, Withdrawals Date PR May 31 Debit Acct. No. 382 Credit Balance 60.ee Insurance Expense PR May 31 Acct. No. 637 Debit Credit Balance 3.640 Services Revenue Date PR Acct. No. 481 Debit Credit Balance 149.77e Rent Expense Date May 31 PR Debit Acct. No. 648 Credit Balance 7,880 May 31 Depreciation Expense PR May 31 Acct. No. 683 Debit Credit Balance 14.se Income Summary Date PR Debit Acct. No. 981 Credit Balance 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 1 as the date Complete this questions by entering your answers in the tabs below. Required 1 Required 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. Muncal, Capital Debit Credit 622: Salaries Expense Debit Credit Date May 31 Balance Date 85.000) May 31 Balance 42.500 302: M. Muncel, Withdrawala Debit Credit 637: Insurance Expense Debit Credit Date May 31 Balance Date 60.0001 May 31 Balance 3.640 401: Services Revenue Debit Credit 640: Rent Expense Debit Credit Balance Date May 31 Balance 149,770 Date May 31 603: Depreciation Expense Debit Credit 901: Income Summary Debit Credit Date May 31 Balance 14.000 Date / Balance