Debit Credit Cash $6,230 Accounts receivable 12,120 Supplies 5,210 Prepaid insurance 4,800 Land 114,930 Buildings 182,400 Accumulated depreciation-buildings $23,900 Furniture 36.600 Accumulated depreciation-furniture 17,700 Accounts payable 8,620 Deferred revenue Mortgage payable, due 2027 17,900 138,000 Common shares 50,000 Retained earnings 41,200 Dividends declared 1,980 Rent income 234,640 Salaries expense 106,170 Utilities expense 23,320 Depreciation expense 14,310 Interest expense 8,880 Insurance expense 6,720 Advertising expense 900 Income tax expense 7,390 $531,960 $531,960 ditional information Analice policy was purchased for the first time on October 1, 2022 for $11.520 ch Account of shows $1.222 of wpplies on hand May 31 2 3 The buildings have an estimated fue of 20 years and straight-edepreciation is app 4. The furniture has an estimated use of five years and straight-line deprecation is appled Customers must pay a $100 deposit if they want to book a room advance during the peak period. Annals of these bookings indicates that 17 rate of 12.520 per month. An advance payment to one men's and credited to Deferred Revenue By May 31.25 of the dents were earned wand on May 25 and created to en On May 25,siness contracted with Sandhi Lodge to rent one of its king for four mind, starting 7. On May 31, Sandhill Ldge fund 11,775 of time from customers who are currently staying at the lodge. The customers will pay the amounting only when they check out in early June Sales of $1.667 are unpaidat May 31 R Interest on the mortgage payable is $805 for the month of May and June 1 10 The Marvelty of 52.315 has not yet been recorded or paid 11 Additional income tax is estimated to be $1.00 Prepare adjusting journal entries for the month. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round all amounts to the nearest dollar. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No Date Account Titles and Explanation Debit 960 Credit 1. May 31 Insurance Expense Prepaid Insurance 2. 31 Supplies Expense 3988 Supplies 3. 31 Depreciation Expense 760 Accumulated Depreciation-Buildings 4. 31. Depreciation Expense 610 Accumulated Depreciation Furniture 5. 31 Deferred Revenue 2500 Rent Income 6. 31 Rent Income 2528 Deferred Revenue 7. 31 Accounts Receivable 1775 Rent Income 8. 31 Salaries Expense 1667 Salaries Payable 9. 31 Interest Expense 805 Interest Payable 10. 31 Utilities Expense 2315 Accounts Payable 11. 31 Income Tax Expense Income Tax Payable 1000 960 3968 760 610 2500 2528 1775 1667 805 2315 1000 Set up T accounts, enter any opening balances, and post the adjusting journal entries prepared in the above part. (Post entries in the order of journal entries presented in the previous port) Cash Accounts Receivable Supplies Prepaid Insurance Land Buildings Accumulated Depreciation-Buildings Furniture Accumulated Depreciation Furniture > > > Accounts Payable Salaries Payable Interest Payable Income Tax Payable Deferred Revenue Mortgage Payable Common Shares Retained Earnings Dividends Declared Rent Income Salaries Expense Utilities Expense Interest Expense Insurance Expense Advertising Expense Supplies Expense Depreciation Expense Income Tax Expense