Please give an explation of each step.

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[The following information applies to the questions displayed below.] The following is a list of accounts and adjusted amounts for Rollcom, Incorporated, for the fiscal year ended September 30, 2021. The accounts have normal debit or credit balances. Prepare the closing entry required at September 30, 2021. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Note: Enter debits before credits