May	1	Beth made an additional investment in DJB by depositing $3,000 in DJB's checking account, receiving capital stock in exchange.
	1	Instead of continuing co share office space with a local real estate agency, Beth decided to rent office space near a local music store. Paid rent for May, $1,600.
	1	Paid a premium of $3,360 for a comprehensive insurance policy covering liability, theft, and fire. The policy covers a two-year period.
	2	Received $1,200 on account.
	3	On behalf of DJB, Beth signed a contract with a local radio station, KPRG, to provide guest spots for the next three months. The contract requires DJB to provide a guest disc jockey for 80 hours per month for a monthly fee of $2,400. Any additional hours beyond 80 will be billed to KPRG at $40 per hour. In accordance with the contract, Beth received $4,800 from KPRG as an advance payment for the first two months.
	3	Paid $250 on account.
	4	Paid an attorney $150 for reviewing the May 3rd contract with KPRG. (Record as Miscellaneous Expense.)
	5	Purchased office equipment on account from One-Stop Office Mart, $5,000.
	8	Paid for a newspaper advertisement, $200.
	11	Received $600 for serving as a disc jockey for a college fraternity party.
	13	Paid $500 to a local audio electronics store for rental of digital recording equipment.
	14	Paid wages of $1,200 to receptionist and part-time assistant.
	16	Received $1,100 for serving as a disc jockey for a wedding reception.
	18	Purchased supplies on account, $750.
	21	Paid $240 to Rocket Music for use of its current music demos in making various music sets.
	22	Paid $500 to a local radio station to advertise the services of DJB twice daily for the remainder of May.
	23	Served as disc jockey for a party for $1,560. Received $400, with the remainder due June 4, 2021.
	27	Paid electric bill, $560.
	28	Paid wages of $1,200 to receptionist and part-time assistant.
	29	Paid miscellaneous expenses, $170.
	30	Served as a disc jockey for a charity ball for $1,200. Received $600, with the remainder due on June 9, 2021.
	31	Received $2,000 for serving as a disc jockey for a party.
	31	Paid $600 royalties (music expense) to Federated Clearing for use of various artists' music during May.
	31	Paid dividends, $2,000.

The data needed to determine adjustments for the two-month period ending May 31, 2021, are as follows: a) During May, DJB provided guest disc jockeys for KPRG for a total of 110 hours. For information on the amount of the accrued revenue to be billed to KPRG, see the contract described in the May 3, 2021 transaction. b) Supplies on hand at May 31, $170. c) The balance of the prepaid insurance account relates to the May 1, 2021 transaction at the end of Chapter 2. d) Depreciation of the office equipment is $100. e) The balance of the unearned revenue account relates to the contract between DJB and KPRG, described in the May 3, 2021 transaction. f) Accrued wages as of May 31, 2021, were $130.