The Sunland Hotel opened for business on May 1, 2022. Here is its trial balance before adjustment on May 31. SUNLAND

The Sunland Hotel opened for business on May 1, 2022. Here is its trial balance before adjustment on May 31.

SUNLAND HOTEL Trial Balance May 31, 2022
Debit Credit
Cash $2,433
Supplies 2,600
Prepaid Insurance 1,800
Land 14,933
Buildings 72,400
Equipment 16,800
Accounts Payable $4,633
Unearned Rent Revenue 3,300
Mortgage Payable 38,400
Common Stock 59,933
Rent Revenue 9,000
Salaries and Wages Expense 3,000
Utilities Expense 800
Advertising Expense 500
$115,266 $115,266
Other data:
1. Insurance expires at the rate of $300 per month.
2. A count of supplies shows $1,090 of unused supplies on May 31.
3.
a. Annual depreciation is $3,240 on the building.
b. Annual depreciation is $2,640 on equipment.
4. The mortgage interest rate is 5%. (The mortgage was taken out on May 1.)
5. Unearned rent of $2,650 has been earned.
6. Salaries of $710 are accrued and unpaid at May 31.
Required:
Journalize the adjusting entries on May 31.

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