The adjusted trial balance from November 30, 2020, of Peter's Music Lessons follows: (Click the icon to view the adjusted trial balance.) Required 1. Journalize the closing entries of Peter's Music Lessons at November 30, 2020. Include explanations. 2. How much net income or net loss did Peter's Music Lessons earn for the period ended November 30, 2020? How can you tell? Requirement 1. Journalize the closing entries of Peter's Music Lessons at November 30, 2020. 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.) Date November Journal Entry Accounts Debit Credit