Question: 1. Assume it is the end of 2018, please prepare the closing "Revenue" and "Expense"entries for your company ( Computer servicing and networking business) at December 31. You only need to close these two. Your revenue and expense don't need to be the same. it means that you can just come up several revenue and expense accounts with numbers, then close them.
2. Please your own business as an example to explain "The Accounting Cycle". Just write 3-4 sentences to explain the accounting cycle and summarize what you've done for your business in previous weeks