Answer Happy

The adjusted trial balance from June 30, 2020, of Pel'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 Per's Music Lessons earn for the period ended June 30, 2020? How can you June Requirement 1, Journalize the closing entries of Pel'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 line Journal Entry Accounts Date Next, we will close the expense accounts. Previous question Journal Entry Debit CHE Credit Adjusted Trial Balance Account Title Cash Supples Prepaid rent instruments Accumulated amortization-instrument Accounts payable Salarios payable Unearned service revenue P Sauer, capital P Sauer, withdrawals June 30, 2020 Service revenue Salanes expense Rent experse Print $ Done Debi 27,800 8.900 4,400 176.000 31,000 $5,000 33.000 3 Credit 28.000 43.000 4,000 29.000 144300 25,000