prepaid insurance is a 1 year policy starting May 1 p3.2a

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et A es, post to repare an firm. Nardelli Consulting, on May 1 P3.1A (LO 2, 3, 4) Deanna Nardelli started her own consulting 2020. The trial balance at May 31 is as follows. Nardelli Consulting Trial Balance May 31, 2020 Credit Account Number 101 112 126 Debit $ 4,500 6,000 1,900 3.600 11,400 130 149 201 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Common Stock Service Revenue Salaries and Wages Expense Rent Expense 209 311 400 726 $ 2,200 2,000 20,000 7,500 729 3,400 900 $31,700 $31,700 In addition to those accounts listed on the trial balance, the chart of accounts for Nardelli Consulting also contains the following accounts and account numbers: No. 150 Accumulated Depreciation Equipmeni No. 212 Salaries and Wages Payable, No. 631 Supplies Expense, No. 717 Depreciation Expens No. 722 Insurance Expense, and No. 732 Utilities Expense. Other data: 1. $900 of supplies have been used during the month. 2. Utilities expense incurred but not paid on May 31, 2020, $250. 3. The insurance policy is for 2 years. 4. $400 of the balance in the unearned service revenue account remains unearned at the end of the month. 5. May 31 is a Wednesday, and employees are paid on Fridays. Nardelli Consulting has two employees, who are paid $900 each for a 5-day work week. 6. The equipment has a 5-year life with no salvage value. It is being depreciated at $190 per month for 60 months. 7. Invoices representing $1,700 of services performed during the month have not been recorded as of May 31. Instructions a. Prepare the adjusting entries for the month of May. Use J4 as the page number for your journal. b. Enter the totals from the trial balance as beginning account balances and place a check mark in the posting reference column. Post the adjusting entries to the ledger accounts. c. Prepare an adjusted trial balance at May 31, 2020, c. Adj. tri