The Blossom Hotel opened for business on May 1, 2022. Here is its trial balance before adjustment on May 31. BLOSSOM HOTEL Trial Balance May 31, 2022 Debit Credit Cash $ 2,283 Supplies 2,600 Prepaid Insurance 1,800 Land 14,783 Buildings 72,400 Equipment 16,800 Accounts Payable $4,483 3,300 Unearned Rent Revenue 38,400 Mortgage Payable 59.783 Common Stock 9,000 Rent Revenue Salaries and Wages Expense 3,000 800 Utilities Expense 500 Advertising Expense $114,966 $114.966 Advertising Expense 500 $114,966 $114,966 Other data: 1. Insurance expires at the rate of $360 per month. 2. A count of supplies shows $1,050 of unused supplies on May 31. 3. (a) Annual depreciation is $2,760 on the building. (b) Annual depreciation is $2,160 on equipment. 4. The mortgage interest rate is 5%. (The mortgage was taken out on May 1.) 5. Unearned rent of $2,580 has been earned. 6. Salaries of $810 are accrued and unpaid at May 31. Journalize the adjusting entries on May 31. (If no entry is required, select "No Entry"for the account titles and enter for not indent manually.) Debit Credit No. Account Titles and Explanation 360 1. Insurance Expense 1. Insurance Expense 360 Prepaid Insurance 360 2. Supplies Expense 1550 Supplies 1550 3(a). Depreciation Expense 230 Depreciation Expense 180 3(b). Accumulated Depreciation-Buildings 230 Accumulated Depreciation Equipment 180 4. Interest Expense 160 Interest Payable 160 5. Unearned Rent Revenue 2580 2580 Rent Expense 6. Salaries and Wages Expense 810 810 Salaries and Wages Payable Prepare a ledger using T-accounts. Enter the trial balance amounts and post the adjusting entries. (Post entries in the order of journal entries presented in the previous question.) Cash 5/31 2580 Supplies Prepaid Insurance Land Building Accumulated Depreciation-Building Accumulated Depreciation-Building y Equipment Accumulated Depreciation-Equipment 7 Accounts Payable Unearned Rent Revenue Salaries and Wages Payable Interest Payable Mortgage Payable Common Stock Rent Revenue Salaries and Wages Expense Utilities Expense Advertising Expense Interest Expense Insurance Expense Supplies Expense Depreciation Expense Prepare an adjusted trial balance on May 31. BLOSSOM HOTEL Adjusted Trial Balance Debit Credit $ $ Prepare an income statement for the month of May. BLOSSOM HOTEL Income Statement $ Prepare a retained earnings statement for the month of May. BLOSSOM HOTEL Retained Earnings Statement $ Prepare a classified balance sheet at May 31. (List current assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Equipment.) BLOSSOM HOTEL Balance Sheet Assets $ $ Identify which accounts should be closed on May 31. Cash Supplies Prepaid Insurance Land Buildings Equipment Accounts Payable Unearned Rent Revenue 7 Mortgage Payable Common Stock 7 Rent Revenue Salaries and Wages Expense Utilities Expense Advertising Expense Interest Expense Y Insurance Expense Supplies Expense Depreciation Expense