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Pharoah's Hotel opened for business on May 1,2022. Its trial balance before adjustment on May...

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Accounting

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Pharoah's Hotel opened for business on May 1,2022. Its trial balance before adjustment on May 31 is as follows. In addition to those accounts listed on the trial balance, the chart of accounts for Pharoah's Hotel also contains the following account and account numbers: No. 142 Accumulated Depreclation-Bultdings, 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. Prepaid insurance is a 1-year policy starting May 1,2022. 2. A count of supplies shows $700 of unused supplies on Mav 31 . 3. Annual depreciation is $3,708 on the buldings and $1,440 on equipment. 4. The note payable interest rate is 6%. (The note was taken out on May 1 and will be repaid along with interest in 1 year.) 5. Two-thirds of the unearned rent revenue has been earned. 6. Salarits and wages of $700 are unpaid and unrecorded at May 31. Journalize the adjusting entries on May 31. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not thient manually.)

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