pare adjusting entries est, and prepare adjusted I balance and financial rements. 2, 3, 4) X S P3-2A The Skyline Motel opened for business on May 1, 2019. Its trial balance before adjustment on May 31 is as follows. SKYLINE MOTEL Trial Balance May 31, 2019 Debit Credit Account Number 101 Cash $ 3,500 126 Supplies 2,080 130 Prepaid Insurance 2,400 Land 12,000 141 Buildings 60,000 149 Equipment 15,000 201 Accounts Payable 208 Unearned Rent Revenue $11,180 275 Mortgage Payable 3,300 311 Common Stock 40,000 429 Rent Revenue 35,000 610 Advertising Expense 10,300 726 Salaries and Wages Expense 732 140 600 3,300 Utilities Expense 900 $99,780 $99,780 In addition to those accounts listed on the trial balance, the chart of accounts for Sky- line Motel also contains the following accounts and account numbers: No. 142 Accu- mulated Depreciation-Buildings, No. 150 Accumulated Depreciation-Equipment, No. 212 Salaries and Wages Payable, No. 230 Interest Payable, No. 619 Depreciation Expense, No. 631 Supplies Expense, No. 718 Interest Expense, and No. 722 Insurance Expense. Other data: 1. Prepaid insurance is a 1-year policy starting May 1, 2019. 2. A count of supplies shows $750 of unused supplies on May 31. 3. Annual depreciation is $3,000 on the buildings and $1,500 on equipment. 4. The mortgage interest rate is 12%. (The mortgage was taken out on May 1.) 5. Two-thirds of the unearned rent revenue has been earned. 6. Salaries of $750 are accrued and unpaid at May 31. Instructions (a) Journalize the adjusting entries on May 31. (b) Prepare a ledger using the three-column form of account. Enter the trial balance amounts and post the adjusting entries. (Use J1 as the posting reference.) (c) Prepare an adjusted trial balance on May 31. (d) Prepare an income statement and a retained earnings statement for the month of May and a balance sheet at May 31. (d P3-3A Everett Co. was organized an Iuly 1 2010 Oul...ni