Barbara Jones started her own consulting firm, Jones Consulting, on May 1, 2022. The trial balance at May 31 is as follows. JONES CONSULTING Trial Balance May 31, 2022 Account Number Debit Credit 101 Cash $4,700 112 Accounts Receivable 6,200 126 Supplies 1,700 130 Prepaid Insurance 4,800 149 Equipment 10,800 201 Accounts Payable $ 4,800 209 Unearned Service Revenue 1,900 301 Owner's Capital 18,500 400 7,700 Service Revenue Salaries and Wages Expense 726 3,500 729 Rent Expense 1,200 $32,900 $32,900 In addition to those accounts listed on the trial balance, the chart of accounts for Jones Consulting also contains the following accounts and account numbers: No. 150 Accumulated Depreciation-Equipment, No. 212 Salaries and Wages Payable, No. 631 Supplies Expense, No. 717 Depreciation Expense, No. 722 Insurance Expense, and No. 732 Utilities Expense. Other data: 1. 2. 3. 4. $600 of supplies have been used during the month. Utilities expense incurred but not paid on May 31, 2022, $300. An insurance policy for 2 years was purchased on May 1. $300 of the balance in the unearned service revenue account remains unearned at the end of the month. May 31 is a Wednesday, and employees are paid on Fridays. Jones Consulting has two employees, who are paid $800 each for a 5-day work week. The office furniture has a 5-year life with no salvage value. It is being depreciated at $180 per month for 60 months. Invoices representing $1,800 of services performed during the month have not been recorded as of May 31. 5. 6. 7. Prepare the adjusting entries for the month of May. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Ref. Debit Credit May 31 631 126 May 31 732 201 May 31 722 130 May 31 209 400 May 726 31 212 May 31 717 150 May 112 31 400