Problem 3-02A a-cd1-43 (Video) (Part Level Submission) The Sunland Company opened for business on May 1, 2020. Its trial balance before adjustment on May 31 is as follows. Sunland Company Trial Balance May 31, 2020 Account Number Debit Credit 101 Cash $3,400 126 Supplies 2,000 130 Prepaid Insurance 3,000 140 Land 14,000 141 Buildings 58,800 Equipment 15,000 201 Accounts Payable $ 11,400 208 Uneared Rent Revenue 3,400 275 Mortgage Payable 40,000 311 Common Stock 35,900 429 Rent Revenue 10,400 610 Advertising Expense 650 726 Salaries and Wages Expense 3,400 732 Utilities Expense 850 $101,100 $101,100 149 In addition to those accounts listed on the trial balance, the chart of accounts for Sunland Company 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 Suppil Expense, No. 718 Interest Expense and No. 722. Insurance Financa 732 Utilities Expense BSO $101,100 $101,100 In addition to those accounts listed on the trial balance, the chart of accounts for Sunland Company also contains the following accounts and account numbers: No. 142 Accumulated Depreciation-Buildings, No. 150 Accumulated Deprecation-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 $300 of unused supplies on May 31. 3. Annual depreciation is $2,940 on the buildings and $1,500 on equipment 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. 4 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 decimal places. e.g. 5,275.) No. Date Account Tities and Explanation Debit Credit 1. May 31 2. May 3 May 31