JULIJ (Part Level Submission) Swifty started her own consulting firm, Swifty Corporation, on May 1, 2020. The trial balance at May 31 is as follows. Swilty Corporation Trial Balance May 31, 2020 Account Number Credit 112 126 Debit $4,700 5,900 2,300 4,800 10,200 20; Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Uneared Service Revenue Common Stock Service Revenue Salaries and Wages Expense Rent Expense 209 311 $4,400 2.000 18,000 8.400 726 3,500 729 $32,800 $32,800 In addition to those accounts listed on the trial balance, the chart of accounts for Swifty Corporation also contains the following accounts and account numbers: No. 150 Accumulated Deprecation-Equipment, No. 212 Salaries and Wages Payable, No. 631 Supplies Expense, No. 717 Depreciation Expense, No. 722 Insurance Expense, and No. 732 Utilities Expense. In addition to those accounts listed on the trial balance, the chart of accounts for Swifty Corporation also contains the following accounts and account numbers: No. 150 Accumulated Depreciation Equipment, No. 212 Salaries and Wages Payable, No. 631 Supplies Expense, No. 717 Depreciation Expense, No. 722 Insurance Expense, and No. 732 Utilities Expense. Other data: 1. $1,200 of supplies have been used during the month. 2. Utilities expense incurred but not paid on May 31, 2020, $200. 3. The insurance policy is for 2 years. 4. $500 of the balance in the uneared service revenue account remains unearned at the end of the month. 5. May 31 is a Wednesday, and employees are paid on Fridays. Nardelli Consulting has two employees, who are paid $1,000 each for a 5-day work week. 6. The equipment has a 5-year life with no salvage value. It is being depreciated at $170 per month for 60 months. 7. Invoices representing $1,800 of services performed during the month have not been recorded as of May 31. (a) Prepare the adjusting entries for the month of May. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit 1. May 31 Supplies Expense 1,200 Supplies 2. May 31 Utilities Expense 200 Accounts Payable 3. May 31 Insurance Expense