8 00 10 points Exercise 3-19 (Algo) Preparing and posting closing entries LO P6 Use the May 31 fiscal year-end information from the following ledger accounts (assume that all accounts have normal balances). Retained Earnings Date May 31 General Ledger Account Number 318 Salaries Expense PR Debit Credit G2 Balance 83,000 Date May 31 PR Debit Account Number 622 Credit Balance G2 41,500 eBook Dividends Account Number 319 Insurance Expense Account Number 637 Date PR Debit Credit Balance Date PR Debit Credit Balance May 31 G2 53,000 May 31 G2 3,120 Services Revenue Account Number 403 Rent Expense Account Number 640 Hint Date PR Debit Credit Balance Date PR Debit Credit May 31 G2 146, 246 Depreciation Expense Account Number 603 May 31 Income Summary G2 Balance 6,840 Date Ask May 31 PR G2 Debit Credit Balance Date PR Debit Credit Account Number 901 Balance 12,000 Print References (a) 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. Complete this questions by entering your answers in the tabs below. Required A Required B