*Problem 3-2A The Skyline Motel opened for business on May 1, 2015. Its trial balance before adjustment on May 31 is as follows. Trial Balance May 31, 2015 3,592 2,784 12,220 Prepaid Insurance 140 15,240 201 11,261 ,120 40,000 5,138 1,134 Accounts Payable Unearned Rent Revenue Mortgage Payable Common Stock Rent Revenue Advertising Expense Saleries and Wages Expense Utilities Expense 301 610 551 $100,653 $100,653 In addition to those accounts listed on the trial balance, the chart of accounts for Skyline Motel 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, 2015 2. A count of supplies shows $770 of unused supplies on May 31 3. Annual deprediation is $3,000 on the buildings and $1,524 on equipment. 4- The mortgage interest rate is 12%. (The mortgage was taken out on May 1.) 5. Two-thirds of the unearned rent revenue has been earned 6. Salaries of $771 are accrued and unpaid at May 31. Journalize the adjusting entries on May 31. (Credit account titles are automatically indented w No. Date Account Titles and Explanation 1. May 31 Insurance Expense Credit Debit 173 1311 2. May 31 Supplies Expense 1311 3. May 31 Depreciation Expense 4524 3000 1524 4. May 31[InterestExpense0 koo S. May 31 Unearned Rent Revenu 2080 6. May 31 Salaries and Wages E 71 400 Interest Payable 400 2080 Rent Revenue Salaries and Wages Pa Prepare a ledger using the three-column form of account. Enter the trial balance amounts and post the adjusting entries. ( posted in the previous part of the question.) Cash No. 101 Debit Date Explanation Ref Credit Balance Balance May 31 Supplies V 359 No. 126 Debit Credit Balance Date Explanation Balance Adjusting Ref May 31 May 31 Prepaid Insurance 770 1 2611 No. 130 Debit Date Explanation Credit Balance Ref May 31 May 31 Land Balance Adjusting No. 140 Debit Credit Date Explanation Ref Balance Balance May 31 Buildings No. 141 Debit Date Explanation Ref Credit Balance Balance May 31 Accumulated Depreciation-Buildings No. 142 Debit Balance DateExplanation Ref Credit Adjusting May 31 Equipment No. 149 Date Explanation Debit Ref Credit Balance May 31 Balance No. 150 Accumulated Depreciation-Equipment Date Explanation Debit Ref Credit Balance May 31 Adjusting No. 201 Accounts Payable DateExplanation Ref Debit Credit Balance May 31 Balance Unearned Rent Revenue No. 208 Ref Date Explanation Debit Credit Balance May 31 May 31 Salaries and Wages Payable Balance Adjusting No. 212 Debit Balance Ref Credit Date Explanation Adjusting May 31 Interest Payable JI No. 230 Ref Debit Credit Date Explanation Balance May 31 Mortgage Payable Adjusting No. 275 DateExplanation Debit Credit Ref Balance May 31 Balance Common Stock No. 301 Date Explanation Credit Balance Ref Debit May 31 Balance No. 429 Rent Revenue Ref Date Explanation Debit Credit Balance May 31 May 31 Balance U1 Adjusting Advertising Expense No. 610 Date Explanation Balance Ref Debit Credit Balance May 31 No. 619 Depreciation Expense Debit Credit Date Explanation Balance Ref May 31 Supplies Expense Adjusting JI No. 631 Debit Date Explanation Ref Credit Balance May 31 Adjusting 01 Interest Expense No. 718 Debit Date Explanation Ref Credit Balance May 31 Adjusting No. 722 Insurance Expense Debit Credit Balance Date Explanation Ref May 31 Salaries and Wages Expense Adjusting No. 726 Ref Debit Credit Date Explanation Balance May 31 May 31 Utilities Expense Balance Adjusting No. 732 Ref Debit Date Explanation Credit Balance May 31 Balance