eTextbook and Media Question 1 of 2 Question 1 of 2 15 The Sheridan Hotel opened for business on May 1, 2027. The May transactions resulted in a tabular summary, with May 31 unadiusted balances shown below in the first row. The $23,400 in the revenue column resulted from Rent Revenue. The $11,180 in the expense column includes Salaries and Wages $7,800, Utilities $2,080, and Advertising $1,300. (a) Record adjustments on May 31 that reflect the following data. Include explanations for each adjustment to revenue or expense. - Decreases in assets, liabitities, or stockhotders' equity require a negative sign or parentheses. - Increases in expenses require a negative sign or parentheses. - Increases in Accumulated Depreciation require a negative sign or parentheses. 1. Insurance expires at the rate of $1,170 per month. 2. A count of supplies shows $2,730 of unused supplies on May 31 . 3. (a) Annual depreciation is 59,360 on the building- (b) Annual depreciation is $7,800 on equipment. 4. The note payble interest rate is 6%. The note was taken out on May 1 and has a 1-vear life. Interest and principal are to be repald at the maturity of the note.) 5. Rental services related to unearned rent of $6,500 have been prowided. 6. Salaries of $2,340 are accrued and unpaid at May 31 . Question 1 of 2 .15