This assignment has 2 parts, as follows:

Please explain the purpose of adjusting entries and closing entries. In a 1-2-page paper, not including the title and reference pages, detail what each accomplishes, and give examples of each. Please journalize the closing entries from the attached 10-column worksheet. Use the attached template to complete your General Journal. Please submit both parts of your assignment. For assistance with your assignment, please use your text, Web resources, and all course materials.