Problem 3-02A a-d Sunland's Hotel opened for business on May 1, 2020. Its trial balance before adjustment on May 31 is as follows. SUNLAND'S HOTEL Trial Balance May 31, 2020 Debit Credit Account Number 101 126 $ 3,600 2,050 130 140 1,800 14,000 61,800 15,600 141 149 201 Cash Supplies Prepaid Insurance Land Buildings Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable Owner's Capital Rent Revenue Advertising Expense Salaries and Wages Expense Utilities Expense 208 275 $ 4,900 3,000 40,000 41,200 14,650 301 429 650 610 726 3,400 850 732 $103,750 $103,750 In addition to those accounts listed on the trial balance, the chart of accounts for Sunland's Hotel 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 $3,708 on the buildings and $1,560 on equipment. 4. The mortgage at an annual interest rate is 6%. (The mortgage was taken out on May 1.) 5. Two-thirds of the unearned rent revenue has been earned. 6. Salaries of $700 are accrued and unpaid at May 31. Journalize the adjusting entries on May 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit No. Date 1. May 31 2. May 31 3. May 31 4. May 31 5. May 31 6. May 31 No. 149 Debit Credit Balance No. 150 Balance Debit Credit Equipment Date Explanation Ref. May 31 Balance 7 Accumulated Depreciation Equipment Date Explanation Ref. May 31 Adjusting J1 Accounts Payable Date Explanation Ref. May 31 Balance Unearned Rent Revenue Date Explanation Ref. May 31 Balance V No. 201 Balance Debit Credit No. 208 Balance Debit Credit J1 No. 212 Balance Ref. Debit Credit J1 No. 230 Balance Ref. Debit Credit May 31 Adjusting Salaries and Wages Payable Date Explanation May 31 Adjusting Interest Payable Date Explanation May 31 Adjusting Mortgage Payable Date Explanation May 31 Balance Owner's Capital Date Explanation J1 No. 275 Ref. Debit Credit Balance No. 301 Balance Ref. Debit Credit May 31 Balance 7 No. 429 Rent Revenue Date Explanation May 31 Balance Ref. Debit Credit Balance 31 No. 610 Balance Ref. Debit Credit No. 619 Ref. Debit Credit Balance May 31 J1 No. 631 Ref. Debit Credit Balance May 31 Adjusting Advertising Expense Date Explanation May 31 Balance Depreciation Expense Date Explanation Adjusting Supplies Expense Date Explanation May 31 Adjusting Interest Expense Date Explanation May 31 Adjusting Insurance Expense Date Explanation May 31 Adjusting Salaries and Wages Expense Date Explanation J1 No. 718 Balance Ref. Debit Credit J1 No. 722 Ref. Debit Credit Balance J1 No. 726 Balance Ref. Debit Credit May 31 Balance May 31 Adjusting J1 Utilities Expense Date Explanation No. 732 Balance Ref. Debit Credit May 31 Balance Prepare an adjusted trial balance on May 31. SUNLAND'S HOTEL Adjusted Trial Balance Debit Credit $ Totals $ $ Prepare an income statement for the month of May. SUNLAND'S HOTEL Income Statement $ $ $ Prepare an owner's equity statement for the month of May. SUNLAND'S HOTEL Owner's Equity Statement $