The Carla Vista Hotel opened for business on May 1, 2022. The May transactions resulted in a tabular summary, with May 31 unadjusted balances shown below in the first row. The $25,200 in the revenue column resulted from Rent Revenue. The $12,040 in the expense column includes Salaries and Wages $8,400, Utilities $2,240, and Advertising $1,400. Assets Cash + Supplies + Prepd. Insur. Land + Bldgs. Acc. Depr.- Bldgs. + Equip. Acc. Depr.- Equip. Accts. Pay. Int. + Pay + Bal. 7,000 + 7,280 + 5,040 + 42,000 + 196,000 0 + 47,040 0 = 13,160 + 0 + (a) Record adjustments on May 31 that reflect the following data. Include explanations for each adjustment to revenue or expense. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) 1. Insurance expires at the rate of $1,260 per month. 2. A count of supplies shows $2,940 of unused supplies on May 31. 3. (a) Annual depreciation is $10,080 on the building. (b) Annual depreciation is $8,400 on equipment. 4. The mortgage interest rate is 6%. (The mortgage was taken out on May 1.) 5. Rental services related to unearned rent of $7,000 have been provided. 6. Salaries of $2,520 are accrued and unpaid at May 31. Bal. Cash 7,000 Adj. 1. Adj. 2. Adj. 3a. Adj. 3b. Adj. 4. Adj. 5. Adj. 6. Adj. Bal. + Supplies 7,280 Prepd. + Insur. 5,040 + Land 42,000 Assets + Bldgs. 196,000 Acc. Depr.- Bldgs. 0 Equip. 47 Equip. 47,040 Acc. Depr.- Equip. Accts. Pay. 13,160 + Int. Pay 0 Liabilities Sal./Wages Pay. 0 Unearn. Rent. Rev. + Mortg. Pay Com. Stock 9,240 100,800 168,000 Stockholders' Equity Retained Earnings Exp. Rev. 25,200 eTextbook and Media Div -12,040 Supplies Expense Insurance Expense Rent Revenue Salaries & Wages Expense Interest Expense Depreciation Expense