ences Use the May 31 fiscal year-end information from the following ledger accounts (assume that all...

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ences Use the May 31 fiscal year-end information from the following ledger accounts (assume that all accounts have normal balances). M. Muncel, Capital Dated May 31 M. Muncel, Withdrawals Date May 31 Services Revenue Date May 31 Depreciation Expense PR 62 Date May 31 PR G2 PR G2 PR G2 Debit Debit Debit Debit General Ledger Account Number 301 Salaries Expense Credit Balance 87,000 Account Number 302 Credit Date May 31 Insurance Expense Date Balance 58,000 May 31 Account Number 403 Rent Expense Credit Balance Date 153,294 May 31 Account Number 603 Income Summary Credit Date Balance 21,000 323 32 23 PR G2 PR G2 PR 62 PR Debit N Debit Debit Debit Account Credit Accounti Credit Account Credit (e) 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. Account Credit ences Use the May 31 fiscal year-end information from the following ledger accounts (assume that all accounts have normal balances). M. Muncel, Capital Dated May 31 M. Muncel, Withdrawals Date May 31 Services Revenue Date May 31 Depreciation Expense PR 62 Date May 31 PR G2 PR G2 PR G2 Debit Debit Debit Debit General Ledger Account Number 301 Salaries Expense Credit Balance 87,000 Account Number 302 Credit Date May 31 Insurance Expense Date Balance 58,000 May 31 Account Number 403 Rent Expense Credit Balance Date 153,294 May 31 Account Number 603 Income Summary Credit Date Balance 21,000 323 32 23 PR G2 PR G2 PR 62 PR Debit N Debit Debit Debit Account Credit Accounti Credit Account Credit (e) 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. Account Credit