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The Highland Cove Resort has a May 31 fiscal year end and prepares adjusting entries on a monthly basis. The following trial balance was prepared

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The Highland Cove Resort has a May 31 fiscal year end and prepares adjusting entries on a monthly basis. The following trial balance was prepared before recording the May 31 month-end adjustments: HIGHLAND COVE RESORT Trial Balance May 31, 2021 Debit Credit Cash $ 16,300 Prepaid Insurance 1.920 Supplies 830 Land 31,000 150.000 Buildings Accumulated Depreciation-Buildings $47.750 Furniture 33,000 12.925 Accumulated Depreciation-Furniture 7.900 Accounts Payable 14.100 Unearned Revenue 102.000 Mortgage Payable 1905 ENG 12 PM H1-13 K MarDhailanita 120 Cloudy 12.925 Accumulated Depreciation-Furniture Accounts Payable 7.900 Unearned Revenue 14,100 102.000 Mortgage Payable K. MacPhail, Capital 89,500 K. MacPhail Drawings 43,000 228,270 5.775 7.040 Service Revenue Depreciation Expense Insurance Expense Interest Expense Repairs Expense Salaries Expense Supplies Expense 5,610 14,400 151,870 4,100 37,600 Utilities Expense $ 502.445 $ 502.445 (62) Post the monthly adjusting journal entries on May 31. (Post entries in the order of journal entries presented in the previous part) Cash May 31 16,300 Prepaid Insurance May 31 1.920 Supplies 830 May 31 May 31 31,000 Buildings May 31 150,000 Accumulated Depreciation-Buildings May 31 47.750 Furniture May 31 33,000 Accumulated Depreciation-Furniture 12,925 May 31 1940 Cloudy The Highland Cove Resort has a May 31 fiscal year end and prepares adjusting entries on a monthly basis. The following trial balance was prepared before recording the May 31 month-end adjustments: HIGHLAND COVE RESORT Trial Balance May 31, 2021 Debit Credit Cash $ 16,300 Prepaid Insurance 1.920 Supplies 830 Land 31,000 150.000 Buildings Accumulated Depreciation-Buildings $47.750 Furniture 33,000 12.925 Accumulated Depreciation-Furniture 7.900 Accounts Payable 14.100 Unearned Revenue 102.000 Mortgage Payable 1905 ENG 12 PM H1-13 K MarDhailanita 120 Cloudy 12.925 Accumulated Depreciation-Furniture Accounts Payable 7.900 Unearned Revenue 14,100 102.000 Mortgage Payable K. MacPhail, Capital 89,500 K. MacPhail Drawings 43,000 228,270 5.775 7.040 Service Revenue Depreciation Expense Insurance Expense Interest Expense Repairs Expense Salaries Expense Supplies Expense 5,610 14,400 151,870 4,100 37,600 Utilities Expense $ 502.445 $ 502.445 (62) Post the monthly adjusting journal entries on May 31. (Post entries in the order of journal entries presented in the previous part) Cash May 31 16,300 Prepaid Insurance May 31 1.920 Supplies 830 May 31 May 31 31,000 Buildings May 31 150,000 Accumulated Depreciation-Buildings May 31 47.750 Furniture May 31 33,000 Accumulated Depreciation-Furniture 12,925 May 31 1940 Cloudy

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