CTU ACCT201 PHASE 3 DISCUSSIONS

Primary Task Response:
Within the Discussion Board area, write 300–400 words that respond to
the following questions with your thoughts, ideas, and comments. This
will be the foundation for future discussions by your classmates. Be
substantive and clear, and use examples to reinforce your ideas.
Closing Entries
What are the reasons for closing entries?What accounts are closed?How are closing entries done?What is the result of the closing entry?Merchandising
What is the difference between a service and a merchandising business? Provide an example of each.What are three new types of merchandising accounts?
Responses to Other Students: Respond to at least 2
of your fellow classmates with a reply of at least 100 words about their
primary task response regarding items you found to be compelling and
enlightening. To help you with your discussion, please consider the
following questions:
What did you learn from your classmate’s posting?What additional questions do you have after reading the posting?What clarification do you need regarding the posting?What differences or similarities do you see between your posting and other classmates’ postings?
For assistance with your assignment, please use your text, Web resources, and all course materials.