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journalize the adjusting entries on May 31

Question 3 Cullumber's Hotel opened for business on May 1, 2020. Its trial balance before adjustment on May 31 is as follows. CULLUMBER'S HOTEL Trial Balance May 31, 2020 Debit Credit $3,400 2,150 1,800 Account Number 101 126 130 140 141 149 201 13,000 61,600 15,600 Cash Supplies Prepaid Insurance Land Buildings Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable Owner's Capital Rent Revenue Advertising Expense Salaries and Wages Expense Utilities Expense $ 4,700 3,300 40,000 41,000 13,500 726 600 3,400 950 $102,500 732 $102,500 $102,500 $102,500 In addition to those accounts listed on the trial balance, the chart of accounts for Cullumber's Hotel also contains the following accounts and account numbers: No. 142 Accumulated Depreciation Buildings, No. 150 Accumulated Depreciation-Equipment, No. 212 Salaries and Wages Payable, No. 230 Interest Payable, No. 619 Depreciation Expense, No. 631 Supplies Expense, No. 718 Interest Expense, and No. 722 Insurance Expense. Other data: 1. 2. 3. 4. 5. 6. Prepaid Insurance is a 1-year policy starting May 1, 2020. A count of supplies shows $700 of unused Supplies on May 31. Annual depreciation is $3,696 on the buildings and $1,560 on equipment. The mortgage at an annual interest rate is 6%. (The mortgage was taken out on May 1.) Two-thirds of the unearned rent revenue has been earned. Salaries of $800 are accrued and unpaid at May 31. (a) Journalize the adjusting entries on May 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Credit 1. May 31 Debit 2. May 31

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