Calibri X Cut Copy Format Pants Clipboard en A A Wrap Tet A. Merge Center BIU- General Norm $ % Conditional Formats Check Formatting Table Number Alignment A B D E F G General Journal 2018 Date PR CREDIT DEBIT Account Titles Closing Entries 3 3 0 11 12 13 14 15 16 17 18 19 20 21 22 23 24 26 27 28 29 30 Sheet S Balance Sheet Unadjusted Adjusted income Income Trial Balance Debit Credit 10375 Adjustments Debit Credit Trial Balance Statement Debit Credit Debit Credit 10375 Owner's Equity Debit Credit 10375 800 Cash Prepaid Insurance Supplies Automobile 1000 225 b) 200 a) 50 175 15000 800 175 15000 15000 c) 1000 1000 2000 2000 2000 18000 18000 18000 400 400 400 400 Accum. Depr. Frankl Valley, Capital Franki Valley, Drawing Commission Revenue Depreciation expense Supplies experise Insurance expense 8000 8000 8000 c) 1000 0 1000 1000 0 50 50 a) 50 B) 200 1250 0 200 200 1250 28000 28000 27000 27000 1250 6750 net income 8000 26750 20000 6750 800026750 26750 8000 Assignment Details Assignment Description This assignment has 2 puts, as follows. 1. 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 2. 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. Other Information There is no additional Information to display at this time Legend Extra Credit View asignment Rubric lp