The Concord Corporation opened for business on May 1, 2022. Its trial balance before adjustment on May 31 is as follows

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The Concord Corporation opened for business on May 1, 2022. Its trial balance before adjustment on May 31 is as follows. Concord Corporation Trial Balance May 31, 2022 Account Number Debit Credit 101 Cash 126 130 Supplies Prepaid Insurance Land $ 3,010 1,790 2,064 10,320 51,600 12,720 140 141 149 200 201 208 Buildings Equipment Notes Payable Accounts Payable Unearned Rent Revenue Common Stock $ 34,400 9,616 311 2,838 30,100 8,678 429 610 726 Rent Revenue Advertising Expense Salaries and Wages Expense Utilities Expense 732 516 2,838 774 $85,632 $85,632 In addition to those accounts listed on the trial balance, the chart of accounts for Concord Corporation 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. Other data: 1. 2. 3. Prepaid insurance is a 1-year policy starting May 1, 2022. A count of supplies shows $645 of unused supplies on May 31. Annual depreciation is $2,580 on the buildings and $1,272 on equipment. The note payable interest rate is 12%. (The note was taken out on May 1 and will be repaid along with interest in 2 years.) Two-thirds of the unearned rent revenue has been earned. Salaries and wages of $885 are unpaid and unrecorded at May 31. 4. 5. 6. Cash Date Ref No. 101 Balance Debit Credit Explanation Balance May 31 Supplies Date Explanation Ref No. 126 Balance Debit Credit May 31 Balance 7 J1 May 31 Adjusting Prepaid Insurance Date Explanation May 31 Balance Ref No. 130 Balance Debit Credit May 31 Adjusting J1 Land Date Explanation Ref No. 140 Balance Debit Credit May 31 Balance 7 No. 141 Ref Debit Credit Balance Buildings Date Explanation May 31 Balance Accumulated Depreciation- Buildings Date Explanation No. 142 Ref Debit Credit Balance May 31 Adjusting No. 149 Balance Ref Debit Credit No. 150 Ref Debit Credit Balance Equipment Date Explanation May 31 Balance Accumulated Depreciation, Equipment Date Explanation May 31 Adjusting Notes Payable Date Explanation May 31 Balance Accounts Payable Date Explanation May 31 Balance J1 No. 200 Balance Ref Debit Credit No. 201 Balance Ref Debit Credit Unearned Rent Revenue Date Explanation May 31 Balance No. 208 Balance Ref Debit Credit 1 May 31 Adjusting Salaries and Wages Payable Date Explanation May 31 Adjusting No. 212 Balance Ref Debit Credit 1 No. 718 Balance Ref Debit Credit J1 Interest Expense Date Explanation May 31 Adjusting Insurance Expense Date Explanation May 31 Adjusting Salaries and Wages Expense Date Explanation May 31 Balance No. 722 Balance Ref Debit Credit Ji No. 726 Balance Ref Debit Credit