The Concord Hotel opened for business on May 1, 2022. Here is its trial balance before adjustment on May 31.

CONCORD Hotel Trial Balance May 31, 2022
		Debit			Credit
Cash		$ 2,300
Supplies		2,600
Prepaid Insurance		1,800
Land		14,800
Buildings		67,600
Equipment		16,800
Accounts Payable					$ 4,500
Unearned Rent Revenue					3,300
Mortgage Payable					33,600
Common Stock					59,800
Rent Revenue					9,000
Salaries and Wages Expense		3,000
Utilities Expense		800
Advertising Expense		500
		$ 110,200			$ 110,200

Other data:

1.		Insurance expires at the rate of $ 450 per month.
2.		A count of supplies shows $ 1,070 of unused supplies on May 31.
3.		Annual depreciation is $ 2,880 on the building and $ 2,280 on equipment.
4.		The mortgage interest rate is 5%. (The mortgage was taken out on May 1.)
5.		Unearned rent of $ 2,690 has been earned.
6.		Salaries of $ 690 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 the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. Insurance Expense 450 Prepaid Insurance 450 2. Supplies Expense 1,530 Supplies 1.530 3. Depreciation Expense 2.280 Accumulated Depreciation-Buildings 2,280 (To record depreciation on buildings) Depreciation Expense 2.880 Accumulated Depreciation-Equipment 2.880 (To record depreciation on equipment) 4. Interest Expense 168 Interest Payable 168 5. Unearned Rent Revenue Rent Revenue 6. Salaries and Wages Expense 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 2,300 5/31 Bal. 2,300 Supplies Prepaid Insurance Land Building Accumulated Depreciation-Building Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Rent Revenue Salaries and Wages Payable Interest Payable Mortgage Payable Common Stock Rent Revenue V Prepaid Insurance > Land Buildings Equipment > Accounts Payable Unearned Rent Revenue Mortgage Payable Common Stock Rent Revenue Salaries and Wages Expense Depreciation Expense