Logan Krause started her own consulting firm, Krause Consulting, on May 1, 2022.The trial balance at May 31 is as follows.

In addition to those accounts listed on the trial balance, the chart of accounts for Krause Consulting also contains the following accounts and account numbers: No. 158 Accumulated Depreciation?Equipment, No. 212 Salaries and Wages Payable, No. 631 Supplies Expense, No. 711 Depreciation Expense, and No. 722 Insurance Expense.

Other data:1. $900 of supplies have been used during the month.2. The insurance policy is for 2 years.3. May 31 is a Wednesday, and employees are paid on Fridays. Krause Consulting has two employees who are paid $920 each for a 5-day work week.4. The equipment is being depreciated at $190 per month for 60 months.

Instructionsa. Prepare the adjusting entries for the month of May. Use J4 as the page number for your journal.b. Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances and place a check mark in the posting reference column.c. Prepare an adjusted trial balance at May 31, 2022.

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Krause Consulting Trial Balance May 31, 2022 Debit Account Number Credit $ 4,500 101 Cash 112 Accounts Receivable 6,000 126 Supplies 1,900 130 Prepaid Insurance 3,600 157 Equipment 11,400 $ 4,500 201 Accounts Payable Owner's Capital 301 19,800 400 Service Revenue 9,500 Salaries and Wages Expense 726 6,400 $33,800 $33,800