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. In this problem, you are not required to update or post to the accounts receivable and accounts payable subsidiary ledgers. Indicate closed accounts by inserting a line in both the balance columns opposite the closing entry. Insert the new balance in the owner's capital account.

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

Date	Description	Post. Ref.	Debit	Credit
2016
May 31
May 31
May 31
May 31