Chapter 3 Adjusting the Accounts P3.2 Prepare adjusting entries, post, and prepare adjusted trial balance and financial statements. Lazy River Resort opened for business on May 1, 2020. Its trial balance before adjustment on May 31 is as follows. LAZY RIVER RESORT Trial Balance MAY 31, 2020 Account Number Debit Credit 101 Cash 3,400 126 Supplies 2,080 130 Prepaid Insurance 2,400 140 Land 12,000 141 Buildings 60,000 149 Equipment 14,000 201 Accounts Payable 4,700 208 Unearned Rent Revenue 3,300 275 Mortgage Payable 40,000 311 Share Capital Ordinary 41,380 332 Dividends 1,000 429 Rent Revenue 10,300 610 Advertising Expense 600 726 Salaries and Wages Expense 3,300 732 Utilities Expense 900 99,680 99,680