AaBbCc AaBb Emphasis Heading 1 Normal Strong Subtitle Styles Problem 8-6 Lenny's May Accounting Period This problem repeats Lenny's month of May from Chapter 8. Print the forms on the followir pages and use them to complete this problem. Aa A Paragraph Requirement 1 Observe that for each of the May 2019 transactions the required entries have been made in the General Journal and posted to the General Ledger. Requirement 2 Based on the information given in Requirement 5 of problem 8-5, record the May depreciation adjusting entry in the General Journal and post the adjusting entry to the General Ledger accounts. Requirement 3 On May 31, Lenny's determines that there are $5,875 of supplies still on-hand. Determine the required adjusting entry that needs to be made to the Supplies asset account by completing the Supplies "T" Account Analysis form. Based on your "T" Account Analysis, record the May supplies adjusting entry in the General Journal and post the adjusting entry to the General Ledger accounts. Requirement 4 Use the information given in Requirement 2 of Problem 8-5 concerning the April 1 $32,000 advance payment from a local university to complete this requirement. Prepare and record the May 31 adjusting entry for Unearned Revenue as follows: Put the April 1 and May 31 dollar amounts in the Timeline of Unearned Revenue chart Utilize the information from the Unearned Revenue account in the General Ledger and from the Timeline of Unearned Revenue chart to complete the Unearned Revenue "T" Account Analysis form Based on your "T" Account Analysis, record the May 31 Unearned Revenue adjusting entry in the General Journal and post the adjusting entry to the General Ledger accounts. Ranuiramant 6 tates Accessibility Unavailable o .c E 88F