The adjusted trial balance from June 30, 2020, of Pei's Music Lessons follows: (Click the icon to view the adjusted tria

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The Adjusted Trial Balance From June 30 2020 Of Pei S Music Lessons Follows Click The Icon To View The Adjusted Tria 1 (31.27 KiB) Viewed 8 times

The adjusted trial balance from June 30, 2020, of Pei's Music Lessons follows: (Click the icon to view the adjusted trial balance.) Required 1. Journalize the closing entries of Per's Music Lessons at June 30, 2020. Include explanations 2. How much net income or net loss did Pel's Music Lessons eam for the period ended June 30, 2020? How can yo Requirement 1. Journalize the closing entries of Pei's Music Lessons at June 30, 2020. Include explanations First, we will close the revenue account. (Record debits first, then credits. Select the explanation on the last lin Journal Entry Accounts June Date Next, we will close the expense accounts Journal Entry Debit G Credit Adjusted Trial Balance Account Title Cash Supplies Prepaid rent Pal's Music Lessons June 30, 2000 Accumulated amortization-instruments Accounts payable Salaries payable Unearned service revenue P Sauer capital P. Sauer, withdrawal Service revenue 1 Debil 17,000 8.900 4400 176.000 21,000 1 Credit 43,000 4.900 29,000 108300 75.000