Please explain the purpose of adjusting entries and closing entries.?In a 1-2-page, not including the title and reference pages, detail what each accomplishes, and give examples of ea

This assignment has 2 parts, as follows:

1. Please explain the purpose of adjusting entries and closing entries. In a 1-2-page, 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.