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 earings account: If an amount box does not require an entry, leave it blank. Description Ref. Date Post. Debit Credit May 31 Sales 5,316,205 0 2,991,950 727,800 292,000 V Cost of Goods Sold Sales Salaries Expense Advertising Expense Depreciation Expense Store Supplies Expense Miscellaneous Selling Expense Office Salaries Expense 14,000 9,800 12,600 417,700 Rent Expense 88,700 Insurance Expense 12,000 Miscellaneous Administrative Expense 7,800 31 Sales 5,316,205 0 0 2,991,950 727,800 292,000 14,000 9,800 Cost of Goods Sold Sales Salaries Expense Advertising Expense Depreciation Expense Store Supplies Expense Miscellaneous Selling Expense Office Salaries Expense Rent Expense Insurance Expense Miscellaneous Administrative Expense Retained Earnings 12,600 417,700 88,700 12,000 7,800 741,755 X y 31 Retained Earnings Dividends 135,000 135,000 Feedback Check My Work