Question 7 [20 points]

Question 7 [20 points] Given the following adjusted account balances, post the closing entries at May 31 , 2019 directly into the T-accounts. Also show account balances by inserting 'Balance' to the left of the respective amount. sets 13/May 51,500 Bal. 51,500 Dividends 71May 12,000 >ilities 27/May 31,000 Common St 28/May 30,000 Income Summa taine < 26/May 53,000 Bal. nsulti Rev 12/May 37,500 Insurance Expense 17/May 36,500 31/May 36,500 'lities Expens% 7/May 10,500 31/May 10,500