Kimberly Young started her own consulting firm, Young Consulting, on May 1, 2022. The trial balance at May 31 is as follows. YOUNG CONSULTING Trial Balance May 31, 2022 Account Number Debit Credit 101 Cash $4,500 112 Accounts Receivable 6,200 126 Supplies 1,900 130 Prepaid Insurance 2,400 149 Equipment 12,600 201 Accounts Payable $4,600 209 Unearned Service Revenue 1,900 301 Owner's Capital 17,700 400 Service Revenue 8,300 726 Salaries and Wages Expense 3,500 729 Rent Expense 1,400 $32,500 $32,500 In addition to those accounts listed on the trial balance, the chart of accounts for Young Consulting 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. $900 of supplies have been used during the month. 2. Utilities expense incurred but not paid on May 31, 2022, $200. 3. An insurance policy for 2 years was purchased on May 1. 4. $300 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. Young Consulting has two employees, who are paid $800 each for a 5-day work week. 6. The office furniture has a 5-year life with no salvage value. It is being depreciated at $210 per month for 60 months. 7. Invoices representing $1,500 of services performed during the month have not been recorded as of May 31. Prepare the adjusting entries for the month of May. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation 1. May 31 2. May 31 Ref. Debit 631 126 732 201 May 722 3. 31 130 May 209 4. 31 400 May 726 5. 31 212 717 May 6. 31 150 May 112 7. 31 400 Credit