Explain the closing entry process and prepare the closing entries in journal form based on the infor

Explain the closing entry process and prepare the closing entries in journal form based on the information
POST COMPANY
ADJUSTED TRIAL BALANCE
Cash Debit 80,000 Credit Accounts Receivable 12,000 Prepaid Insurance 2,000 Equipment 4,000 Accumulated
Depreciation Supplies 100
400 Accounts Payable 800 Wages Payable 200 Unearned Revenue 1,200 Contributed Capital 82,400 Retained Earnings 0 Sales 16,000 Gas Expense 200 Supply Expense 400 Insurance Expense 400 Depreciation
Expense 100 Wage Expense 200 Dividends 1,000 100,700 100,700 al form based on the information below