Logan Krause started her own consulting firm, Krause Consulting, on May 1, 2020. The trial balance at May 31 is as follows. KRAUSE CONSULTING Trial Balance May 31, 2020 Account Number Debit Credit 101 Cash $4,500 112 Accounts Receivable 6,000 126 Supplies 1,900 130 3,600 149 11,400 201 $4,500 209 Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Owner's Capital Service Revenue Salaries and Wages Expense 2,000 301 18,700 9,500 400 726 6,400 729 Rent Expense 900 301 Owner's Capital 18,700 400 Service Revenue 9.500 726 Salaries and Wages Expense 6,400 729 Rent Expense 900 $34,700 $34,700 In addition to those accounts listed on the trial balance, the chart of accounts for Krause 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 2 3 $900 of supplies have been used during the month. Utilities expense incurred but not paid on May 31, 2020, $250. The insurance policy is for 2 years. $400 of the balance in the unearned service revenue account remains unearned at the end of the month. May 31 is a Wednesday, and employees are paid on Fridays. Krause Consulting has two employees, who are paid $920 each for a 5-day work week 4 5. 5. May 31 Is a Wednesday, and employees are paid on Fridays. Krause Consulting has two employees, who are paid $920 each for a 5-day work week. The office furniture has a 5-year life with no salvage value. It is being depreciated at $190 per month for 60 months Invoices representing $1.700 of services performed during the month have not been recorded as of May 31. 6. 7. 1 Question 1 of 2 Post the posting entries to the ledger accounts Enter the totals from the trial balances beginning account balances are the stadih tempor Cash 1201 Dete Explanation RA Debit Credit Balance May 31 Balance Accounts Receivable No. 1:2 Dete Explanation Rel Debat Credit Balance May 31 Balance May 31 Adjusting 34 Supplies No. 125 Date Explanation Rel. Debit Credit lance May 31 Balance May 31 Adjusting 4 No. 130 Prepaid Insurance Date Explanation Ref. Debit Credit Balance May 31 Balance May 31 Adjusting 34 No. 149 Equipment Date Explanation Rer Debit Credit Balance May 31 Balance Accumulated Depreciation Equipment Date Explanation No. 150 Rel. Debit Credit Balance May 31 Adjusting 4 Accounts Payable Date Explanation No. 201 Ref. Debit Credit Balance May 31 Balance May 31 Adjusting Unearned Service Revenue No. 209 Date Explanation Ref. Debit Credit Balance Unearned Service Revenue 10 Dette fplentiam Red Debit Credit Balance May 31 Balance May 31 Adjusting 14 NA 2:2 Salaries and Wages Payable Dete Explanation Rel. Debih Credit Balance May 31 Adjusting 34 Owner's Capital NO 301 Date Explanation Red Debit Credit Balance May 31 Balance Service Revenue No. 400 Date Explanation Ref. Debit Credit Balance May 31 Balance May 31 Adjusting 34 May 31 Adjusting 34 Supplies Expense Date Explanation No. 631 Ref. Debit Credit Balance May 31 Adjusting 34 Depreciation Expense Date Explanation No. 717 Ref. Debit Credit Balance May 31 Adjusting 34 Insurance Expense Date Explanation No. 722 Ref. Debit Credit Balance May 31 Adjusting 24 Salaries and Wages Expense No. 726 Date Explanation Ref. Debit Credit Balance May 31 Balance May 31 Adjusting H Rent Expense NA 729 Salaries and Wages Expense No. 726 Date Explanation Ref. Debit Credit Balance May 31 Balance May 31 Adjusting 14 Rent Expense Date Explanation No. 729 Ref. Debit Credit Balance May 31 Balance Utilities Expense No. 732 Date Explanation Ref. Debit Credit Balance May 31 Adjusting 14