You must complete parts 1, 2, 3, 4, 6, 7 and 8 before attempting to complete part 9. Part 5 is optional.

Journalize the closing entries. Then post the journal to the general ledger you created in part 1. Indicate closed accounts by inserting a line in both the balance columns opposite the closing entry. Insert the new balance in the retained earnings account.

If an amount box does not require an entry, leave it blank.

Date	Description	Post. Ref.	Debit	Credit
May 31	Accounts ReceivableAccumulated DepreciationCashRetained EarningsSales		fill in the blank 2	fill in the blank 3
	CashCost of Goods SoldDividendsInventorySales		fill in the blank 5	fill in the blank 6
	CashDividendsSalesSalaries PayableSales Salaries Expense		fill in the blank 8	fill in the blank 9
	Accounts PayableAdvertising ExpenseCashSalesStore Supplies		fill in the blank 11	fill in the blank 12
	Accumulated Depreciation-Store EquipmentCashDepreciation ExpenseSalesStore Equipment		fill in the blank 14	fill in the blank 15
	CashDividendsSalesStore SuppliesStore Supplies Expense		fill in the blank 17	fill in the blank 18
	Accounts PayableAccounts ReceivableCashInventoryMiscellaneous Selling Expense		fill in the blank 20	fill in the blank 21
	Accounts PayableCashInventoryOffice Salaries ExpenseSales		fill in the blank 23	fill in the blank 24
	Accounts PayableAccumulated DepreciationCashRent ExpenseSales		fill in the blank 26	fill in the blank 27
	Accounts PayableCashInsurance ExpensePrepaid InsuranceStore Supplies		fill in the blank 29	fill in the blank 30
	Accounts ReceivableCashDividendsMiscellaneous Administrative ExpenseSales		fill in the blank 32	fill in the blank 33
	Accounts PayableCashInsurance ExpensePrepaid InsuranceRetained Earnings		fill in the blank 35	fill in the blank 36
May 31	CashDividendsSales DiscountsSales Returns and AllowancesRetained Earnings		fill in the blank 38	fill in the blank 39
	Accounts ReceivableCashDividendsRetained EarningsSales		fill in the blank 41	fill in the blank 42