Sheridan started her own consulting firm, Sheridan Company, on May 1, 2020. The trial balance at May 31 is as follows. Sheridan Company Trial Balance May 31, 2020 Account Number Debit Credit 101 Cash $4,700 112 Accounts Receivable 6,000 126 Supplies 2,300 130 Prepaid Insurance 2,400 149 Equipment 10,200 201 Accounts Payable $4,300 209 Unearned Service Revenue 1,900 311 Common Stock 16,100 400 Service Revenue 8,000 726 Salaries and Wages Expense 3,300 729 Rent Expense 1,400 $30,300 $30,300 In addition to those accounts listed on the trial balance, the chart of accounts for Sheridan Company also contains the following accounts and account numbers: No. 150 Accumulated Depreciation-Equipment, No. 212 Salaries and Wages Payable, No. 631 Supplies Expense, No. 717 Depreciation Expense, No. 722 Insurance Expense, and No. 732 Utilities Expense. Other data: 1. $1,300 of supplies have been used during the month. 2. Utilities expense incurred but not paid on May 31, 2020, $300. 3. The insurance policy is for 2 years. 4. $300 of the balance in the unearned service revenue account remains unearned at the end of the month. 5. May 31 is a Wednesday, and employees are paid on Fridays. Nardelli Consulting has two employees, who are paid $800 each for a 5-day work week. 6. The equipment has a 5-year life with no salvage value. It is being depreciated at $170 per month for 60 months. 7. Invoices representing $1.500 of services performed during the month have not been recorded as of May 31.1 Enter the totals from the trial balance as beginning account balances. Post the adjusting entries to the ledger accounts. (Post entries in the order of journal entries presented in the previous part.) Cash No. 101 Date Explanation Ref Debit Credit Balance May 31 Balance Accounts Receivable No. 112 Date: Explanation Ref Debit Credit Balance: May 31 Balance May 31 Adjusting 34 Supplies No. 126 Date Explanation Ref Debit Credit Balance May 31 Balance v May 31 Adjusting 34 Prepaid Insurance No. 130 Date Explanation Ref Debit Credit Balance May 31 Balance Question Prepaid Insurance No. 130 Date Explanation Ref Debit Credit Balance May 31 Balance May 31 Adjusting 34 Equipment No. 149 Date Explanation Ref Debit Credit Balance May 31 Balance Accumulated Depreciation- No. 150 Equipment Date Explanation Ref Debit Credit Balance May 31 Adjusting 34 Accounts Payable No. 201 Date Explanation Ref Debit Credit Balance May 31 Balance May 31 Adjusting 34 Unearned Service Revenue Date: Explanation May 31 Balance No. 209 Ref Debit Credit Balance Question 6 of 8 May 31 Adjusting Uneamed Service Revenue Date Explanation May 31 Balance May 31 Adjusting 34 No. 209 Ref Debit Credit Balance 34 Salaries and Wages Payable No. 212 Date Explanation Ref Debit Credit Balance May 31 Adjusting 34 Common Stock No. 311 Date Explanation Ref Debit Credit Balance May 31 Balance Service Revenue No. 400 Date Explanation Ref Debit. Credit Balance May 31 Balance V May 31 Adjusting 34 May 31 Adjusting 34 Supplies Expense No. 631 Date Explanation Ref Debit Credit Balance Supplies Expense No. 631 Date Explanation Ref Debit Credit Balance May 31 Adjusting 34 Depreciation Expense No. 717 Date Explanation Ref Debit Credit Balance May 31 Adjusting Insurance Expense No. 722 Date Explanation Ref Debit Credit Balance May 31 Adjusting 34 Salaries and Wages Expense Date Explanation No. 726 Ref Debit Credit Balance May 31 Balance May 31 Adjusting 34 Rent Expense No. 729 Date Explanation Ref Debit Credit Balance May 31 Balance Utilities Expense No. 736 Date Explanation. Ref Debit Credit Balance May 31 Balance May 31 Adjusting Rent Expense No. 729 Date Explanation Ref Debit Credit Balance May 31 Balance Utilities Expense No. 736 Date Explanation Ref Debit Credit Balance May 31 Adjusting 34 eTextbook and Media List of Accounts