Journalize the adjusting entries on May 31.

Prepare a ledger using T-accounts. Enter the trial balance amounts and post the adjusting entries.

Prepare an adjusted trial balance on May 31.

CRANE HOTEL Trial Balance May 31, 2022 Debit Credit Cash $2,593 2,600 Supplies Prepaid Insurance Land 1,800 15,093 72,400 16,800 $4,793 3,300 Buildings Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable Common Stock Rent Revenue Salaries and Wages Expense Utilities Expense Advertising Expense 38,400 60,093 9,000 3,000 800 500 $115.586 $115,586 Other data: 1. 2. 3. Insurance expires at the rate of $360 per month. A count of supplies shows $1,150 of unused supplies on May 31. (a) Annual depreciation is $3,600 on the building. (b) Annual depreciation is $3.000 on equipment. The mortgage interest rate is 5%. (The mortgage was taken out on May 1.) Unearned rent of $2,630 has been earned. Salaries of $750 are accrued and unpaid at May 31. 4 5