The Crane Hotel opened for business on May 1, 2022. Here is its trial balance before adjustment on May 31. CRANE HOTEL Trial Balance May 31, 2022 Debit Credit Cash $2,403 Supplies 2,600 Prepaid Insurance 1,800 Land 14,903 Buildings 70,000 Equipment 16,800 Accounts Payable Unearned Rent Revenue. Mortgage Payable $4,603 3,300 36,000 Common Stock 59,903 Rent Revenue 9,000 Salaries and Wages Expense 3,000 Utilities Expense 800 Advertising Expense 500 $112.806 $112.806 Other data: Other data: 1. Insurance expires at the rate of $450 per month. 2. A count of supplies shows $1,160 of unused supplies on May 31. 3. (a) Annual depreciation is $3,480 on the building. (b) Annual depreciation is $2,880 on equipment. 4. The mortgage interest rate is 6%. (The mortgage was taken out on May 1.) 5. Unearned rent of $2,580 has been earned. 6. Salaries of $760 are accrued and unpaid at May 31. (a) Your answer is partially correct. Journalize the adjusting entries on May 31. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Journalize the adjusting entries on May 31. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation 1. Insurance Expense Prepaid Insurance 2. Supplies Expense Supplies 3(a). Depreciation Expense Accumulated Depreciation-Buildings 3(b). Depreciation Expense Accumulated Depreciation-Equipment 4. Interest Expense Interest Payable 5. Unearned Rent Revenue Rent Revenue Salaries and Wages Expense Salaries and Wages Payable Debit 450 1440 3480 Credit 450 1440 3480 10