The accountant for Perfect Paintball has posted adjusting entries (a) through (e) to the accounts at December 31, 2020. All the revenue, expense, and owner's equity accounts of the entity are listed in T-account form. (Click the icon to view the T-accounts.) Required 1. Journalize Perfect Paintball's closing entries at December 31, 2020. Include explanations. Determine if the business had a profit or loss for the year 2. Determine Perfect Paintball's ending Capital balance at December 31, 2020 Requirement 1. Journalize Perfect Paintball's closing entries at December 31, 2020. Include explanations Begin with recording the entry to close out the revenue account. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journal Entry Date Accounts Debit Credit Dec 31 Service Revenue