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Pria's Music Lessons Adjusted Trial Balance December 31, 2023 Account Title Debit Credit Cash $27,600 Supplies 7,500 Prepaid rent 3,600 Instruments 168,900 Accumulated amortizationinstruments $26,050 Accounts payable 29,300 Salaries payable 3,250 Unearned service revenue 17,600 P. Chai, capital 153,300 P. Chai, withdrawals 15,000 Service revenue 61,000 Salaries expense 45,200 Rent expense 15,650 Amortization expenseinstruments 1,200 Supplies expense 2,650 Utilities expense 3,200 Total $290,500 $290,500. Pria's Music Lessons Adjusted Trial Balance December 31, 2023 Account Title Debit Credit Cash $27,600 Supplies 7,500 Prepaid rent 3,600 Instruments 168,900 Accumulated amortizationinstruments $26,050 Accounts payable 29,300 Salaries payable 3,250 Unearned service revenue 17,600 P. Chai, capital 153,300 P. Chai, withdrawals 15,000 Service revenue 61,000 Salaries expense 45,200 Rent expense 15,650 Amortization expenseinstruments 1,200 Supplies expense 2,650 Utilities expense 3,200 Total $290,500 $290,500. Pria's Music Lessons Adjusted Trial Balance December 31, 2023 Account Title Debit Credit Cash $27,600 Supplies 7,500 Prepaid rent 3,600 Instruments 168,900 Accumulated amortizationinstruments $26,050 Accounts payable 29,300 Salaries payable 3,250 Unearned service revenue 17,600 P. Chai, capital 153,300 P. Chai, withdrawals 15,000 Service revenue 61,000 Salaries expense 45,200 Rent expense 15,650 Amortization expenseinstruments 1,200 Supplies expense 2,650 Utilities expense 3,200 Total $290,500 $290,500. The adjusted trial balance from , , of Music Lessons follows: LOADING... (Click the icon to view the adjusted trial balance.) Required 1. Journalize the closing entries of Prias Music Lessons at december ,31,2023 . Include explanations. 2. How much net income or net loss did Music Lessons earn for the period ended , ? How can you tell? Question content area bottom Part 1 Requirement 1. Journalize the closing entries of Music Lessons at , . Include explanations. First, we will close the revenue account. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)

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