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$$ General Journal

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$\backslash$table$[[2018,$Account Titles,,,$],[$Date$,$Closing Entries,PR$,$DEBIT,CREDIT$],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,]]$

$\backslash$table$[[,$Debit,Credit,Debit,Credit,Debit,Credit,Debit,Credit,Debit,Credit$],[$Cash$,10375,,,,10375,,,,10375,],[\backslash$table$[[$Prepaid$],[$Insurance$]],1000,,,\backslash$table$[[$b$)],[200]],800,,,,,],[$Supplies$,225,,,$a$)50,175,,,,175,],[$Automobile$,15000,,,,15000,,,,15000,],[$Accum$.$ Depr.,,,,,,,,,,$]]$

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 accomplishe 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 your assignment.

For assistance with your assignment, please use your textbook and all course resources.

$12367910111213141516171819$A$2018$DateGeneral JournalAccount TitlesClosing EntriesPRDDEBITECREDITG

CashPrepaidInsuranceSuppliesAutomobileAccum. Depr.Franki Valley,CapitalFranki Valley,DrawingCommissionRevenueDepreciationexpenseSuppliesexpenseInsuranceexpensenet incomeAdjustmentsDebit Credit Debit CreditTrial Balance$1037510002251500040001000180008000$C$1000$a$)50$B$)200$b$)200$a$)50$c$)1000$Trial Balance StatementDebit Credit Debit Credit$80017515000400100050200200018000800027000270001250125028000280001000502001250675080008000$EquityDebit$1037580017515000400$Credit$2000180008000267502000067508000267502675010375$