part 2: Prepare the adjusting entries for the month of May.

part 3. Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances.

part 4: Prepare an adjusted trial balance at May 31, 2020.

Question 3 Patricia Johnson started her own consulting firm, Johnson Consulting, on May 1, 2020. The trial balance at May 31 is as follows. JOHNSON CONSULTING Trial Balance May 31, 2020 Account Number Debit Credit 101 Cash $ 4,600 112 Accounts Receivable 6,000 126 Supplies 2,200 130 Prepaid Insurance 2,400 149 Equipment 12,000 201 Accounts Payable $ 4,500 209 Unearned Service Revenue 2,100 301 Owner's Capital 17,500 400 Service Revenue 7,800 726 Salaries and Wages Expense 3,300 729 Rent Expense 1,400 $31,900 $31,900 In addition to those accounts listed on the trial balance, the chart of accounts for Johnson Consulting 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. 2. 3. 4. 5. $1,200 of supplies have been used during the month. Utilities expense incurred but not paid on May 31, 2020, $300. The insurance policy is for 2 years. $400 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. Johnson Consulting has two employees, who are paid $900 each for a 5-day work week. The office furniture has a 5-year life with no salvage value. It is being depreciated at $200 per month for 60 months. Invoices representing $1,600 of services performed during the month have not been recorded as of May 31. 6. 7