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will upvote. 1. The furniture has an estimated useful life of nine years and straight-line depreciation is applied. 2. The March utility bill of $3,070
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1. The furniture has an estimated useful life of nine years and straight-line depreciation is applied. 2. The March utility bill of $3,070 has not yet been recorded or paid. 3. A count of supplies shows $5,850 of supplies on hand on March 31 . 4. Salaries of $13,000 are unpaid at March 31. 5. Interest on the mortgage payable is $1,020 for the month of March and due April 2. 6. On March 31. Pharoah Suites earned $3,730 of rent from customers who are currently staying at the suites. The customers will pay the amount owing only when they check out. 7. On March 15, a local organization contracted with Pharoah Suites to rent one of its executive suites for six months, starting July 1, at a rate of \$5,850 per month. An advance payment equal to 50% of the rent was paid on March 27 and credited to Rent income. 8. Customers must pay a $330 deposit if they want to book a room in advance during the peak period. An analysis of these bookings indicates that 310 deposits were received and credited to Deferred Revenue. By March 31. only 20\%5 of the deposits were earned. 9. An annual insurance policy was purchased for the first time on January 1,2024 for $9,360 cash. 10. The bulidings have an estimated usefullife of 15 years and straight-line depreciation is applied. 11. Additional income tax is estimated to be $2,280. Prepare adjusting journal entries for the month. (List all debit entries before credit entries. Credit account tities 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 occount titles and enter 0 for the amounts.) The following is the unadjusted trial balance for Pharoah Suites Ltd. at its year end, March 31, 2024. The company adjusts its accounts monthly Step by Step Solution
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