Question 3 [20 points) The following information is available for Dylex Corporation on May 31 for the month just ended. Of the $4.000 rent paid to Dylex Corporation in advance, 53,500 has not yet been earned b. The monthly depreciation on the building is $480 c. Unpaid and unrecorded advertising bills at month-end totalled $8,000 d. Dylex Corporation purchased equipment at the start of the month. The equipment cost $39,000 and is expected to have a residual value of $12.000 at the end of the five . A review of the $22.500 unadjusted balance in the prepaid rent account shows a remaining balance of $20,750 at the end of the month Prepare the required adjusting entries at May 31, 2014 Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format ddimmmli, January 15 would be 18/Jan) General Journal Page GUB Date AccountExplanation F Debit Credit 31/May Accounts Receivable Rent Expense 51/May Depreciation Expense Building 480 Accumulated Depreciation, Building 480 114 May at/May b1/May