The Moto Hotel opened for business on May $1,2017.$ Here is its trial balance before adjustment on May $31.$

Prepaid Insurance $1,800$

Land $14,973$

Buildings $72,400$

Equipment $,16,800$

Accounts Payable $$4,673$

Unearned Rent Revenue $3,300$

Mortgage Payable $38\mathrm{.}400$

Common Stock

$59,973$

Rent revenue $9,000$

Salaries and wage expense $3,000$

Utilities expense $800$

Advertising expense $500$

Other data:

Insurance expires at the rate of $$360$ per month.

A count of supplies shows $$1,170$ of unused supplies on May $31.$

$($a$)$ Annual depreciation is $$3,720$ on the building.

$($b$)$ Annual depreciation is $$3,120$ on equipment.

The mortgage interest rate is $5\%.($The mortgage was taken out on May $1.)$

Unearned rent of $$2,540$ has been earned.

Salaries of $$780$ are accrued and unpaid at May $31.$

Journalize the adjusting entries on may $31$

Prepare a ledger using T$-$accounts. Enter trial balance amounts and post the adjusting entries.

Prepare an adjusted trial balance on may $31.$

Prepare an income statement for the month of may.

Prepare a retained earnings statement for the month of may.

Prepare a classified balance sheet on May $31.$