The Sandhill Hotel Opened for business on May 1, 2025. Here is its trial balance before adjustment on May 31

1. Journalize the adjusting entries on May 31

2. Prepare Ledger using T accounts

3. Prepare adjusted trial balance on may 31

4. Prepare Income Statement for the month of may

5. Prepare retained earnings statement for the month of may

6. Prepare balance sheet

Question 7 of 7 The Sandhill Hotel opened for business on May 1, 2025. Here is its trial balance before adjustment on May 31. Other data: 1. Insurance expires at the rate of $360 per month. 2. A count of supplies shows $1,070 of unused supplies on May 31 . 3. Annual depreciation is $3,000 on the building and $2,400 on equipment. 4. The notes payable interest rate is 6%. (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 $2,510 has been earned. 6. Salaries of $860 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.)