Exercise 3: Lindy Rig started her own consulting firm Vektek Consultine, on May 1. 2009. The trial Balance at May 31 is as follows. Account Cash Account Receivable Prepaid Insurance Supplies Office Furniture Accounts Payable Unearned Service Revenue L. Rig. Capital Service Revenue Salaries Expense Rent Expense Debit Credit $7700 4000 2400 1500 12000 $3500 3000 19100 6000 3000 1000 S31600S31600 Other Data: occount poble 1. $500 of supplies has been used during the month. 2. Travel expense incurred but not paid on May 31, 2009, $200. 3. The insurance policy is for 2 years. 4. $1000 of the balance in the unearned service revenue account remains unearned at the end of the month. 5. May 31 is a Wednesday, and employees are paid on Fridays. Vektek Consulting has two employees who are paid $500 each for a 5-day work week. 6. The office furniture has a 5-year life with no salvare value. It is being depreciated at $200 per month for 60 months. 7. Invoices representing $1000 of services performed during the month have not been recorded as of May 31. Instructions a) Prepare the adjusting entries for the month of May. b) Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances. c) Prepare an adjusted trial balance at May 31, 2009