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Question 1 of 1 - / 100 Sheridan's Hotel opened for business on May 1, 2020. Its trial balance before adjustment on May 31 is as follows. SHERIDAN'S HOTEL Trial Balance May 31, 2020 Account Number Debit Credit 101 Cash $3,400 126 Supplies 2.150 130 Prepaid insurance 2.400 13,000 140 Land 141 59.000 Buildings Equipment 149 15.000 201 Accounts Payable $800 208 Unearned Rent Revenue 3.300 275 Mortate Payable 40.000 ! 301 Owner's Capital 41.500 429 10,100 610 600 Rent Revenue Advertising Expense Salaries and Wages Expense Utilities Expense V26 3.200 732 950 $ 99,700 $99.700 In addition to those accounts listed on the trial balance, the chart of accounts for Sheridan'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 2 Prepaid insurance is a 1-year policy starting May 1, 2020 A count of supplies shows $ 800 of unused supplies on May 31. 2 3. Annual depreciation is $3,540 on the buildings and $1,500 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 $ 700 are accrued and unpaid at May 31. 5. 6. 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 Debit Credit MINY 31 2 May 31 3 Mary 31 RAM W4 i e o Type here to search ER TOSHIBA C 3. May 31 4. May 31 5. May 31 6. May 31

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