Question: urguen plese answer Exercise 3-19 (Static) Preparing and posting closing entries LO P6 Use the May 31 fiscal year-end information from the following ledger accounts
urguen plese answer
Exercise 3-19 (Static) 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 Dividends Date May 31 Services Revenue PR G2 PR G2 Date May 31 Depreciation Expense Date May 31 PR G2 PR G2 Debit Debit Debit Debit General Ledger Account Number 318 Credit Balance 40,000 Account Number 319 Credit Balance 22,000 Account Number 403 Credit Balance 76,000 Account Number 603 Credit Balance 15,000 Salaries Expense Date May 31 Insurance Expense Date May 31 Rent Expense Date May 31 Income Summary Date PR G2 PR G2 PR G2 PR Debit Debit Debit Debit Account Number 622 Credit Balance 20,000 Account Number 637 Credit Balance 4,400 Account Number 640 Credit Balance 8,400 Account Number 901 Balance Credit (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
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