The following is the unadjusted trial balance for Cullumber Lodge Ltd. at its year end, May 31, 2021 The company adjusts its accounts monthly.

The following is the unadjusted trial balance for Cullumber Lodge Ltd. at its year end, May 31, 2021. The company adjusts its accounts monthly Debit Credit Cash $6,525 11,360 Accounts receivable Supplies 4,500 Prepaid insurance 4,500 Land 105,270 182,400 $26,200 35.400 Buildings Accumulated depreciation-building Furniture Accumulated depreciation-furniture Accounts payable Deferred revenue 17,800 8.930 17,500 138,000 Mortgage payable, due 2024 50,000 Common shares 40.440 Retained earnings 1.940 Dividends declared Furniture 35,400 Accumulated depreciation-furniture 17,800 Accounts payable 8,930 Deferred revenue 17,500 Mortgage payable, due 2024 138,000 Common shares 50,000 Retained earnings 40,440 Dividends declared 1,940 Rent income 218,675 Salaries expense 102,850 Utilities expense 24,480 Depreciation expense 14,340 Interest expense 9,190 Insurance expense 6,300 Advertising expense 910 Income tax expense 7,580 $517,545 $517,545 Additional information: 1. 2. 3. 4 5. 6. An annual insurance policy was purchased for the first time on October 1, 2020, for $10,800 cash. A count of supplies shows $1,259 of supplies on hand on May 31. The buildings have an estimated useful life of 20 years and straight-line depreciation is applied, The furniture has an estimated useful life of five years and straight-line depreciation is applied. Customers must pay a $100 deposit if they want to book a room in advance during the peak period. An analysis of these bookings indicates that 175 deposits were received and credited to Deferred Revenue. By May 31, 25 of the deposits were earned On May 25, a local business contracted with Cullumber Lodge to rent one of its housekeeping units for four months, starting June 1, at a rate of $3,065 per month. An advance payment equal to one month's rent was paid on May 25 and credited to Rent Income. On May 31, Cullumber Lodge has earned $1,835 of rent income from customers who are currently staying at the lodge. The customers will pay the amount owing only when they check out in early June. Salaries of $1,525 are unpaid at May 31. Interest on the mortgage payable is $805 for the month of May and due June 1. The May utility bill of $2,089 has not yet been recorded or paid. Additional income tax is estimated to be $1,030. 7 8. 9. 10. 11. (a) Prepare adjusting journal entries for the month. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round all amounts to the nearest dollar. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) No Date Account Titles and Explanation Debit Credit 1. May 31 2. 31 3. 31 4. 31 5.31 5. 31 6. 31 7. 31 1 8. 31 9. 31 10. 31 11 31 11 31 Save for Later Attempts: 0 of 1 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above