Now that you have completed the adjusting entries and posted them into the respective T$-$Accounts, in this next step, use the T$-$Account ending balances to prepare an adjusted trial balance. For your reference, the transactions are listed below. You can save your inputs and go back to your T$-$Accounts to check your account balances. Make sure to complete all the inputs before you Submit.

On May $1,$ you prepaid $6$ months of insurance for a total of $$300.$ Coverage started immediately.

Incurred cost of wages for month of May equal to $$400.$ Will pay employees first of June.

Remaining supplies on hand were $$40.$ The balance in Supplies was originally $$90.$

On May $15,$ a customer paid your lemonade stand $$500$ upfront for a catering event on May $31.$ As of May $31,$ the full amount for the catering event has been provided.

On May $31,$ you catered an event for a local company. You invoiced the company for $$350.$ They will pay for the services in the following month.