P3.11A (LO 2, 3, 4) AP The Highland Cove Resort has a May 31 fiscal year end and prepares adjusting Additional information: entries on a monthly basis. The following trial balance was prepared before recording the May 31 month-end 1. The company pays $6,360 for it adjustments: 2. A count shows $560 of supplies HIGHLAND COVE RESORT 3. The building has an estimated Trial Balance May 31, 2021 4. The furniture has an estimated Debit Credit 5. Services related to two thirds of Cash $ 17,520 6. The mortgage interest rate is 6. Prepaid insurance 1,590 7. Salaries accrued to the end of N Supplies 995 8. The May utility bill of $3,420 is Land 35,000 Building 150,000 Accumulated depreciation-building $ 47,750 Required: Furniture 33,000 (a) Record adjusting entries. Accumulated depreciation-furniture 12,925 (b) Prepare adjusted trial balance. Accounts payable 8,500 (c) Prepare income statement, stat Unearned revenue 15,000 (d) Record closing entries. Mortgage payable 96,000 K. MacPhail, capital 85,000 K. MacPhail, drawings 42,735 Service revenue 246,150 Depreciation expense 5,775 Insurance expense 5.830 Interest expense 5.720 Repairs expense 14,400 Salaries expense 156.710 Supplies expense 4.450 Utilities expense 37,600 $511,325 $511,325