Carol Garcia started her own consulting firm, Garcia Consulting, on May 1, 2020. The trial balance at May 31 is as follows. GARCIA CONSULTING Trial Balance May 31, 2020 Credit Debit $4,400 5.900 1.800 4.800 10.200 Account Number 101 112 126 130 149 201 209 301 400 726 729 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Owner's Capital Service Revenue Salaries and Wages Expense Rent Expense $4.800 2.000 16.400 8.500 3.400 1.200 $31.700 $31.700 In addition to those accounts listed on the trial balance, the chart of accounts for Garcia 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. 5. $700 of supplies have been used during the month. Utilities expense incurred but not paid on May 31, 2020,$300. The insurance policy is for 2 years. $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. Garcia Consulting has two employees, who are paid $1,000 each for a 5-day work week The office furniture has a 5-year life with no salvage value. It is being depreciated at $170 per month for 60 months. Invoices representing $1,700 of services performed during the month have not been recorded as of May 31. 6. 7. Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances. (Post entries in the order of journal entries presented in the previous part.) No. 101 Balance Ref. Debit Credit v 4,400 Cash Date Explanation May 31 Balance Accounts Receivable Date Explanation May 31 Balance No. 112 Balance Ref. Debit Credit Adjusting 14 May 31 Supplies Date May 31 No. 126 Balance Explanation Ref. Debit Credit Balance May 31 Adjusting 14