Use the March 31 fiscal year-end information from the following ledger accounts (assume that all accounts have normal balances) to prepare closing journal entries and then post those entries to the appropriate ledgeraccounts.

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General Ledger M. Mallon, Capital Acct. No. 301 Salaries Expense Acct. No. 622 Date PR Debit Credit Balance Date | PR | Debit | Credit | Balance Mar. 3 G2 42.000 Mar. 3 G2 21,000 M. Mallon, Withdrawals Acct. No. 302 Insurance Expense Acct. No. 637 Date PR DebitCredit Balance Date | PR | Debit | Credit | Balance Mar. 3 G2 25,000 Mar. 3 G2 4,500 Services Revenu Acct. No. 401 Rent Expense Acct. No. 640 Date PRDebit Credit Balance Date | PR | Debit | Credit | Balance Mar. 3 G2 74.000 Mar. 3 G2 9.600 Depreciation Expense Acct. No. 603 Income Summary Acct. No. 901 Date PR Debit Credit Balance Date PR Debit Credit Balance Mar. 3G2 17,000