1., 3., 6 & 10. Post the transactions, adjusting entries and closing entries to the T-accounts. Be sure to include beginning balances.

Can someone please explain to me what the numbers mean below beginning balance mean that I have circled. I have already completed the question but I just need help understanding. Why in some places does it say closing entry, then adjustment 4, and then 5? Where are these numbers coming from? Thanks

Problem 3-8B Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) [The following information applies to the questions displayed below.] The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: The following is a summary of the transactions for the year: 1. January 24 Provide plumbing services for cash, $13,000, and on account, $58,000. 2. March 13 Collect on accounts receivable, $46,000. 3. May 6 Issue shares of common stock in exchange for $12,000 cash. 4. June 30 Pay salaries for the current year, $31,600. 5. September 15 Pay utilities of $4,200 from 2020 (prior year). 6. November 24 Receive cash in advance from customers, $7,200. 7. December 30 Pay $1,600 cash dividends to stockholders. The following information is available for the adjusting entries. Depreciation for the year on the machinery is $5,200. Plumbing supplies remaining on hand at the end of the year equal $1,200. Of the $7,200 paid in advance by customers, $5,600 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $7,400. 1 Required information Required information Required information