Debit Credit Cash $ 2,453 Supplies 2,600 Prepaid Insurance 1,800 Land 14,953 Buildings 72.400 Equipment 16,800 Accounts Payable $ 4,653 Unearned Rent Revenue 3,300 Mortgage Payable 38,400 Common Stock 59,953 9,000 Rent Revenue Salaries and Wages Expense 3,000 Utilities Expense 800 500 Advertising Expense $115,306 $115,306 Other data: 1. Insurance expires at the rate of $450 per month. 2. A count of supplies shows $1,120 of unused supplies on May 31. 3. (a) Annual depreciation is $3,720 on the building. (b) Annual depreciation is $3,120 on equipment. 4. The mortgage interest rate is 5%. (The mortgage was taken out on May 11) 5. Unearned rent of $2,580 has been earned. 6. Salaries of $820 are accrued and unpaid at May 31. Your answer is partially correct. Prepare a ledger using T-accounts. Enter the trial balance amounts and post the adjusting entries. (Post entries in the order of Journal entries presented in the previous question) Cash 5/31 2453 5/31 2453 Supplies Prepaid Insurance Debit Credit Cash $ 2,453 Supplies 2,600 Prepaid Insurance 1,800 Land 14,953 Buildings 72.400 Equipment 16,800 Accounts Payable $ 4,653 Unearned Rent Revenue 3,300 Mortgage Payable 38,400 Common Stock 59,953 9,000 Rent Revenue Salaries and Wages Expense 3,000 Utilities Expense 800 500 Advertising Expense $115,306 $115,306 Other data: 1. Insurance expires at the rate of $450 per month. 2. A count of supplies shows $1,120 of unused supplies on May 31. 3. (a) Annual depreciation is $3,720 on the building. (b) Annual depreciation is $3,120 on equipment. 4. The mortgage interest rate is 5%. (The mortgage was taken out on May 11) 5. Unearned rent of $2,580 has been earned. 6. Salaries of $820 are accrued and unpaid at May 31. Your answer is partially correct. Prepare a ledger using T-accounts. Enter the trial balance amounts and post the adjusting entries. (Post entries in the order of Journal entries presented in the previous question) Cash 5/31 2453 5/31 2453 Supplies Prepaid Insurance