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 G2 Acct. No. 301 Debit Credit Balance 94,000 S alaries Expense 1111 Date PR May 31 Acct. No. 622 Debit Credit Balance 47,68 62 M. Muncel, Withdrawals Date PR May 31 Acct. No. 302 Debit Credit Balance 68,000 Insurance Expense Date PR May 31 G2 Acct. No. 637 Debit Credit Balance 4,160 G2 Services Revenue Date May 31 PR Acct. No. 401 Debit Credit Balance 165,628 Rent Expense May 31 PR G2 Acct. No. 640 Debit Credit Balance 8,920 G2 Income Summary Depreciation Expense Date PR May 31 62 *PR Debit Acct. No. 603 Debit Credit Balance 16,089 credentes recept nema summary PRLDebit crediet Acct. No. 981 Credit Balance PR Debit andet 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 Post the entries from Requirement 1 to the General Ledger accounts below. Use the transaction number from Requirement 1 as the date. 301: M. Muncel, Capital Debit Credit 622: Salaries Expense Debit Credit Balance Balance 47,000 May 31 94,000 May 31 302: M. Muncel, Withdrawals Debit Credit 637: Insurance Expense Debit Credit Date May 31 Balance 68 000 Balance 4.160 May 3 401: Services Revenue Debit Credit 640: Rent Expense Debit Credit Date May 31 Balance 165,628 Balance 8.920 May 31 603: Depreciation Expense Debit Credit 901: Income Summary Debit Credit Date Balance Date Balance