Hipster Optical Trial Balance May 31, 2020
Acct. No	Account Title		Debit			Credit
101	Cash	$	18,100
106	Accounts receivable		8,080
124	Office supplies		6,000
128	Prepaid insurance		9,420
163	Office equipment		25,200
201	Accounts payable				$	1,560
230	Unearned service revenue					7,400
301	Peeta Black, capital					55,900
302	Peeta Black, withdrawals		1,440
403	Services revenue					23,240
623	Wages expense		14,600
640	Rent expense		3,900
690	Utilities expense		1,360
	Totals	$	88,100		$	88,100

Required: Using the trial balance provided above, prepare an income statement and statement of changes in equity for the first month ended May 31, 2020, and a balance sheet at May 31, 2020.

Analysis Component: Prepare two different journal entries that might have created the May 31, 2020 balance in the Utilities Expense of $1,360. Use May 31, 2020 as the date for your entries.