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The Blue Spruce Corp. opened for busindss on May 1, 2022. Its trial balance before adjustment on May 31 is as follows. Journalize the adjusting
The Blue Spruce Corp. opened for busindss on May 1, 2022. Its trial balance before adjustment on May 31 is as follows. Journalize the adjusting entries on May 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Expense, and No. 722 Insurance Expense. Other data: 1. Prepaid insurance is a 1-year policy starting May 1, 2022. 2. A count of supplies shows $900 of unused supplies on May 31 . 3. Annual depreciation is $3,600 on the buildings and $1,680 on equipment. 4. The note payable annual interest rate is 12%. (The note was taken out on May 1 and will be repaid along with interest in 2 years.) 5. Two-thirds of the unearned rent revenue has been earned. 6. Salaries and wages of $885 are unpaid and unrecorded at May 31. In addition to those accounts listed on the trial balance, the chart of accounts for Blue Spruce Corp. 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
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