use the may 31 fiscal year-end information from the following ledger accounts( assume that all accounts have normal balances)

Preparing closing entries Use the May 31 fiscal year-end information from the following ledger accounts (assume that all accounts have normal balances). M. Hammad, Capital Date PR May 31 General Ledger Acct. No. 301 Salaries Expense Debit Credit Balance Date PR 89,000 May 31 G2 Debit Acct. No. 622 Credit Balance 44,500 G2 M. Hammad, Withdrawals Date May 31 PR Debit Acct. No. 302 Credit Balance 56,000 Insurance Expense Date PR May 31 G2 Debit Acct. No. 637 Credit Balance 3,900 Services Revenue Date PR May 31 G2 Debit Acct. No. 401 Credit Balance 156,818 Rent Expense Date May 31 PR Acct. No. 640 Debit Credit Balance 8,400 G2 Depreciation Expense Date PR May 31 Debit Acct. No. 603 Credit Balance 15,000 Income Summary Date PR Debit Acct. No. 901 Credit Balance G2 Prepare closing journal entries from the above ledger accounts. View transaction list Journal entry worksheet