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The Oriole Hotel opened for business on May 1, 2025. Here is its trial balance before adjustment on May 31. Oriole Hotel Trial Balance

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The Oriole Hotel opened for business on May 1, 2025. Here is its trial balance before adjustment on May 31. Oriole Hotel Trial Balance May 31, 2025 Debit Credit Cash $2,333 Supplies 2,600 Prepaid Insurance 1,800 Land 14,833 Buildings 67,600 Equipment 16,800 Accounts Payable Unearned Rent Revenue Notes Payable $4,533 3,300 33,600 Common Stock 59,833 Rent Revenue 9,000 Salaries and Wages Expense 3,000 Utilities Expense 800 Advertising Expense 500 $110,266 $110,266 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 $3,840 on the building and $3,240 on equipment. 4. The notes payable interest rate is 5%. (The note was taken out on May 1 and has a 1-year life. Interest and principal are to be repaid at the maturity of the note.) 5. Unearned rent of $2,630 has been earned, 6. Salaries of $730 are accrued and unpaid at May 31. Journalize the adjusting entries on May 31. (List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation 1. 2. 4. 5. (To record depreciation on buildings) (To record depreciation on equipment) Debit Credit

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