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The following is the unadjusted trial balance for Sandhill Lodge Ltd. at its year end, May 31, 2021. The company adjusts its accounts monthly. Accounts payable 8,620 Deferred revenue 17,500 Mortgage payable, due 2024 138,000 Common shares Retained earnings 50,000 Dividends declared 1,980 Rent income 235,040 Salaries expense 106,170 Utilities expense 23,320 Depreciation expense 14,310 Interest expense 8,880 Insurance expense 6,720 Additional information: 1. An annual insurance policy was purchased for the first time on October 1,2020 , for $11,520 cash. 2. A count of supplies shows $1,222 of supplies on hand on May 31 . 3. The buildings have an estimated useful life of 20 years and straight-line depreciation is applied. 4. The furniture has an estimated useful life of five years and straight-line depreciation is applied. 5. Customers must pay a $100 deposit if they want to book a room in advance during the peak period. An analysis of these bookings indicates that 175 deposits were received and credited to Deferred Revenue. By May 31,25 of the deposits wer earned. 6. On May 25, a local business contracted with Sandhill Lodge to rent one of its housekeeping units for four months, starting June 1, at a rate of $2,528 per month. An advance payment equal to one month's rent was paid on May 25 and credited to Rent Income. 7. On May 31, Sandhill Lodge has earned $1,775 of rent income from customers who are currently staying at the lodge. The customers will pay the amount owing only when they check out in early June. 8. Salaries of $1,667 are unpaid at May 31 . 9. Interest on the mortgage payable is $805 for the month of May and due June 1. 10. The May utility bill of $2,315 has not yet been recorded or paid. 11. Additional income tax is estimated to be $1,080. Prepare adjusting journal entries for the month. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round all amounts to the nearest dollar. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)