PREPARE A BALANCE SHEET.

Credit $ 300 $ CRANE HOTEL ADJUSTED TRIAL BALANCE MAY 31, 2022 Debit Cash $ 2,593 Supplies $ 1,150 Prepaid Insurance $ 1,440 Land $ 15,093 Buildings $ 72,400 Accumulated depreciation-building $ Equipment $ 16,800 Accumulated depreciation-equipment $ Accounts Payable $ Interest Payable $ Salaries and wages Payable $ Unearned Rent Revenue $ Mortgage Payable $ Common stock $ Rent Revenue $ Salaries and wages expense $ 3,750 Utilities expense $ 800 Advertising expese $ 500 Insurance expense $ 360 Supplies expense $ 1,450 Depreciation Expense $ 550 Interest expense $ 160 $ 117,046 $ 250 4,793 160 750 670 38,400 60,093 11,630 117,046 ADJUSTING ENTRIES: Debit Credit No. 1. $ $ 360 Account titles and explanations Insurance expense Prepaid Insurance (to record insurance expired) $ $ 360 2. $ 1,450 ($ 2,600 - $ 1,150) Supplies expense Supplies (to record supplies expense) $ 1,450 3. $ 550 Depreciation Expense Accumulated depreciation-building Accumulated depreciation equipment (to record depreciation expense) $ $ 300 ($ 3,600/ 12 months) 250 ($ 3,000/ 12 months) 4. $ 160 Interest expense Interest Payable (to record interest expense) ($ 38,400 x 5% x 1/12) 160 $ 5. $ 2,630 Unearned Rent Revenue Rent Revenue (to record unearned rent revenue earned) $ $ 2,630 6. $ 750 Salaries and wages expense Salaries and wages Payable (to record Salaries and wages Payable) $ 750