Your answer is partially correct Prepare a balance sheet at May 31. (ListAssets in order of liquidity List Property, plant and equipment in order of land, buildings and equipment. Round answers to decimal places, es: 5,275.) Cheyenne Corp. Balance Sheet May 31, 2019 Assets Accounts Receivable Supplies Prepal Insurance Land 61600 3.084 Equipment V: 1 1488 Total Current Liabilities and Stockholders' Equity Cheyenne Corp. Balance Sheet May 31, 2019 Assets Cash 3,500 Accounts Receivable Supplies 2.700 Prepaid insurance 2.200 Land $ 61.600 Less: 3,084 58,516 Equipment 14.900 1483 13412 Total Current Assets 35.928 Liabilities and Stockholders' Equity Liabilities Accounts Payable $ Interest Expense Unearned Service Revenue $ The Cheyenne Corp.opened for business on May 1, 2019. Its trial balance before adjustment on May 31 is as follows. Cheyenne Corp. Trial Balance May 31, 2019 Account Number Debit Credit 101 Cash $3,500 126 Supplies 2.000 130 Prepaid Insurance 2.400 140 Land 14.000 141 Buildings 61.600 149 Equipment 14,900 201 $11.300 Accounts Payable 208 Unearned Rent Revenue 3,200 275 Mortgage Payable 40.000 311 Common Stock 35,300 429 Rent Revenue 18.400 610 Advertising Expense 650 726 Salaries and Wages Expense 3.200 726 3,200 Salaries and Wages Expense Utilities Expense 732 950 $103,200 $103,200 In addition to those accounts listed on the trial balance, the chart of accounts for Cheyenne Corp. also contains the following accounts and account numbers: No. 142 Accumulated Depreciation-Buildings, No. 150 Accumulated Depreciation-Equipment, No. 212 Salaries and Wages Payable, No. 230 Interest Payable, No. 619 Depreciation Expense, No. 631 Supplies Expense, No. 718 Interest Expense, and No. 722 Insurance Expense. Other data: 1. Prepaid insurance is a 1-year policy starting May 1, 2019 2. A count of supplies shows $700 of unused supplies on May 31 3. Annual depreciation is $3,084 on the buildings and $1,488 on equipment, 4. The mortgage Interest rate is 12%. (The mortgage was taken out on May 1.) 5. Two-thirds of the unearned rent revenue has been earned. ON Salaries of $800 are accrued and unpaid at May 31. Journalize the adjusting entries on May 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to decimal places, eg. 5,275.) No. Debit Credit Date Account Titles and Explanation May Insurance Expense 31 1 200 Prepaid Insurance 200 2 May 31 Supplies Expense 1.300 Supplies 1300 3 May 31 Depreciation Expense 381 Accumulated Depreciation Equipment Accumulated Depreciation-Buildings 25 May Interest Expense 400 31 400 Interest Payable 5 May 31 Uncanned Rent Revenue 2.133 3. May 31 Depreciation Expense 381 Accumulated Depreciation-Equipment 124 Accumulated Depreciation-Buildings 257 4 May 31 Interest Expense 400 Interest Payable 400 5 May Unearned Rent Revenue 31 2.133 Rent Revenue 2.133 May ON 31 Salaries and Wages Expense 800 Salaries and Wages Payable 800