Cullumber's Hotel opened for business on May 1, 2022. Its trial balance before adjustment on...
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Cullumber's Hotel opened for business on May 1, 2022. Its trial balance before adjustment on May 31 is as follows. 1. Prepaid insurance is a 1-year policy starting May 1,2022. 2. A count of supplies shows $700 of unused supplies on May 31 . 3. Annual depreciation is $3,528 on the buildings and $1,560 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. Salaries and wages of $800 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 indent m No. Date Account Titles and Explanation 1. May 31 2. May 31 3. May 31 4. May 31 5. May 31 6. May 31 Debit Credit Credit
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Cullumber's Hotel opened for business on May 1, 2022. Its trial balance before adjustment on May 31 is as follows. 1. Prepaid insurance is a 1-year policy starting May 1,2022. 2. A count of supplies shows $700 of unused supplies on May 31 . 3. Annual depreciation is $3,528 on the buildings and $1,560 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. Salaries and wages of $800 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 indent m No. Date Account Titles and Explanation 1. May 31 2. May 31 3. May 31 4. May 31 5. May 31 6. May 31 Debit Credit Credit 