Problem 3-02A a-c, d1-d3 (Video) (Part Level Submission) The Novak Corp. opened for business on May 1, 2020. Its trial balance before adjustment on May 31 is as follows. Novak Corp. Trial Balance May 31, 2020 Credit Account Number 101 126 130 Debit $3,600 2,050 1,800 12,000 60,900 14,700 Cash Supplies Prepaid Insurance Land Buildings Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable Common Stock Rent Revenue Advertising Expense Salaries and Wages Expense Utilities Expense $ 11,900 3,000 40,000 35,100 10,050 650 3,400 950 $100,050 $100,050 In addition to those accounts listed on the trial balance, the chart of accounts for Novak Corp. also contains the following account Depreciation--Buildings, No. 150 Accumulated Depreciation Equipment, No. 212 Salaries and Wages Payable, No. 230 Interest Pa Sunnlies Eynense No 718 Interest Expense and No 722 Insurance Exmanse 726 Salaries and Wacos Expense Utilities Expense 3,400 950 $100,050 $100,050 In addition to those accounts listed on the trial balance, the chart of accounts for Novak Corp, also contains the following accounts and account numbers: No. 142 Accumulated 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, 2020. 2. A count of supplies shows $800 of unused supplies on May 31. 3. Annual depreciation is $3,048 on the buildings and $1,476 on equipment. 4. The mortgage interest rate is 12%. (The mortgage was taken out on May 1.) 5. Two-thirds of the uneared rent revenue has been earned. 6. Salaries of $700 are accrued and unpaid at May 31. (a) Your answer is partially correct. Journalize the adjusting entries on May 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to O decimal place, .. 5,225.) No. Date Account Titles and Explanation Credit 1. May 31 insurance Expense Deontinu 11:07 AM PE * ENG (b) Prepare a ledger using the three-column form of account. Enter the trial balance amounts and post sthe adjusting entries. (Pest entries in the order of journal entries posted in the previous part of the question. Round answers to decimal place.. 5,275.) Cash Date NO. 101 Balance Explanation Ref Debit Credit May 31 Balance Supplies No. 126 Date Explanation Debit Credit May 31 Elance May 31 Acusting No. 130 Prepaid Insurance Date Explanation Debit Crot Balance May 31 Balance Ano NO.140 May 31 Land Date Credit Explanation 110 AM ance MI May 31 Balance Buildings Date No. 141 Balance Explanation Ref Debit Credit May 31 Balance Accumulated Depreciation-Buildings Date Explanation Ref Debit No. 142 Balance Credit May 31 Adjusting Equipment Date No. 149 Balance Explanation Ref Debit Credit May 31 Balance Accumulated Depreciation Equipment Date Explanation Ref No. 150 Balance Debit Credit J1 May 31 Adjusting Accounts Payable Date Explanation No. 201 Balance Ref Debit Credit May 31 Balance Unearned Rent Revenue Date Explanation No. 208 Balance Ref Debit Credit May 31 Balance May 31 Adjusting 1 May 31 Adjusting 1 Salaries and Wages Payable Date Explanation No. 212 Balance Ref Debit Credit May 31 Adjusting Interest Payable Date Explanation No. 230 Balance Ref Debit Credit May 31 Adjusting J1 Mortgage Payable Date Explanation No. 275 Balance Ref Debit Credit May 31 Balance Common Stock Date Explanation No. 311 Balance Ref Debit Credit May 31 Balance Rent Revenue Date Explanation No. 429 Balance Ref Debit Credit May 31 Balance May 31 Adjusting Advertising Expense Date Explanation No. 610 Balance Debit Credit May 31 Y 31 Balance May 31 Balance Depreciation Expense Date Explanation No. 619 Balance Ref Debit Credit May 31 Adjusting Supplies Expense Date Explanation No. 631 Balance Ref Debit Credit May 31 Adjusting Interest Expense Date Explanation No. 718 Balance Ref Debit Credit May 31 Adjusting Insurance Expense Date Explanation May 31 Adjusting No. 722 Balance Ref Debit Credit Salaries and Wages Expense Date Explanation No. 726 Balance Ref Debit Credit May 31 Balance May 31 Adjusting Utilities Expense Date Explanation No. 732 Balance Ref Debit Credit May 31 Balance