1)Prepare Adusting Entries for the month

2) Prepare T accounts, Enter any opening balance.

please show with steps

The following is the unadjusted trial balance for Rainbow Lodge Ltd. at its year end, May 31, 2018. The company adjusts its accounts monthly. Cash Accounts receivable Supplies Prepaid insurance Land Buildings Accumulated depreciation-building Furniture Accumulated depreciation-furniture Accounts payable Unearned revenue Mortgage payable, due 2021 Common shares Retained earnings Dividends declared Rent revenue Salaries expense Utilities expense Depreciation expense Interest expense Insurance expense Advertising expense Income tax expense Debit Credit $5,948 10,770 5,220 4,300 116,820 178,800 $ 25,700 30,600 17,600 8,390 19,200 138,000 70,000 41,050 1,910 206,178 107,560 25,980 14,410 9,120 6,020 1,010 7,650 $526,118 $526,118 Additional information: 1. 2. An annual insurance policy was purchased on October 1, 2017 for $10,320 cash. A count of supplies shows $1,253 of supplies on hand on May 31. 3. The building have an estimated useful life of 20 years and straight-line depreciation is applied. 4. The furniture have 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 192 deposits were received and credited to Unearned Revenue. By May 31, 25 of the deposits were earned. 6. On May 25, a local business contracted with Rainbow Lodge to rent one of its housekeeping units for four months, starting June 1, at a rate of $2,967 per month. An advance payment equal to one month's rent was paid on May 25 and credited to Rent Revenue. 7. On May 31, Rainbow Lodge has earned $1,845 of rent revenue from customers who are currently staying at the inn. The customers will pay the amount owing only when they check out in early June. 8. Salaries of $1,441 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 $2,454 has not yet been recorded or paid. 11. Additional income tax is estimated to be $980