40 Marvelous Music Provides music lessons to student musicians. Some students pay in advance for lesson, others are billed after lessons have been provided. Advance payments are credited to an account titled Uneamed Lesson Revenue Marvelous Music Inc Adjusted Trail Balance December 31, 2020 Account the Debit Credit Cash 27,800 Account receivable 71,250 unexpired Insurance 6,000 Prepaid rent 2.500 Sheet music supplies 5,500 Music Equipment 96.000 Accumulated depreciation Music Equipment 52.000 Account payable 6,420 Note payable 24,000 Dividend payable Interest payable 1.000 Income tax payable 5.200 Unearned Lesson Revenue 7.000 Capital stock 50,000 Retained Earnings 20,000 Dividends 2,500 London Revenue Earned 87,340 Advertising Expense 250 Insurance Expense 1.010 Rent Expense 3,525 Sheet music supplies Expense 605 Utility Expense 890 Depreciation Expense Music Equipment 8.250 Salaries Expense 27.100 Interest expense 360 Income Tax Expense 6220 TOTAL 260.140 260-110 Instructions: # Prepare closing entries on 31 December 2020.4 (show all the ledger accounts related to closing entries) b. Prepare after closing Trail balance for December 31, 2020