Comprehensive Problem 2 Part 9:

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 Receivable
	Cash
	Insurance Expense
May 31	Dividends
	Dividends