1. Prepare closing journal entries (chapter 4) to "close out" all required accounts. (Part 1 & 2A entries are not required and should not be turned in as part of part 2B)

2. Post the journal entries into T-accounts (make sure you have a total amount for each account). Remember t-accounts do not go away. Any T-account from Part 1 & 2A whether it was affected or not needs to be included. There should be no hardcoded numbers on the T-accounts, formulas only.

What is the difference between these two