Metlock started her own consulting firm, Metlock, Inc., on May 1, 2022. The unadjusted trial balance at May 31 is as follows. Metlock, Inc. Trial Balance May 31, 2022 Credit Account Number 101 112 126 130 149 201 209 311 400 726 729 Debit $4,320 5,760 1,824 3,456 11,040 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Common Stock Service Revenue Salaries and Wages Expense Rent Expense $2,112 1.920 19,296 7,200 3.264 864 $30,528 $30,528 In addition to those accounts listed on the trial balance, the chart of accounts for Metlock, Inc. 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 $864 of supplies have been used during the month 1 2 3 4. $864 of supplies have been used during the month. Utilities expense incurred but not paid or recorded on May 31, 2022, $240. An insurance policy for 2 years was purchased on May 1. $384 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. Nardelli Consulting has two employees, who are paid $740 each for a 5-day work week. The equipment has a 5-year life with no salvage value. It is being depreciated at $184 per month for 60 months Invoices representing $1,632 of services performed during the month have not been recorded as of May 31. 5. 6. 7. Prepare the adjusting entries for the month of May. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit No. Date Account Titles and Explanation 1 May 31 2 May 31 May 3 31 May 31 Debit Credit No. Date Account Titles and Explanation May 31 1. 2 May 31 May 3. 31 May 4 31 May 5. 31 6 May 31 7 May 31 No. 101 Balance Debit Credit No. 112 Balance Debit Credit No. 126 Balance Debit Credit Cash Date Explanation Ref May 31 Balance Accounts Receivable Date Explanation Ref May 31 Balance May 31 Adjusting 14 Supplies Date Explanation Ref May 31 Balance May 31 Adjusting 34 Prepaid Insurance Explanation Ref May 31 Balance May 31 Adjusting 34 Equipment Date Explanation Ref May 31 Balance Accumulated Depreciation- Equipment Date Explanation Ref May 31 Adjusting 34 No. 130 Balance Date Debit Credit No. 149 Balance Debit Credit No. 150 Debit Credit Balance No. 201 Balance Ref Debit Credit 34 No. 209 Balance Ref Debit Credit 34 Accounts Payable Date Explanation May 31 Balance May 31 Adjusting Unearned Service Revenue Date Explanation May 31 Balance May 31 Adjusting Salaries and Wages Payable Date Explanation May 31 Adjusting Common Stock Date Explanation May 31 Balance Service Revenue Date Explanation May 31 Balance May 31 Adjusting No. 212 Balance Ref Debit Credit 34 No. 311 Balance Ref Debit Credit No. 400 Balance Ref Debit Credit 14 14 May 31 Adjusting Supplies Expense Date Explanation Ref No. 631 Balance Debit Credit Ref Debit No. 631 Balance Credit 34 Ref Debit Credit No. 717 Balance 34 Ref Debit No. 722 Balance Credit 34 Supplies Expense Date Explanation May 31 Adjusting Depreciation Expense Date Explanation May 31 Adjusting Insurance Expense Date Explanation May 31 Adjusting Salaries and Wages Expense Date Explanation May 31 Balance May 31 Adjusting Rent Expense Date Explanation May 31 Balance Utilities Expense Date Explanation May 31 Adjusting Ref Debit Credit No. 726 Balance 34 Ref Debit No. 729 Balance Credit Ref Debit Credit No. 736 Balance 34