The Solo Hotel opened for business on May 1, 2014. Here is its trial.docx

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Rent Revenue9,000Salaries and Wages Expense3,000Utilities Expense800Advertising Expense500$119,352$119,352Other data:1.Insurance expires at the rate of $360 per month.2.A count of supplies shows $1,188 of unused supplies on May 31.3.(a) Annual depreciation is $3,360 on the building.(b) Annual depreciation is $3,240 on equipment.4.The mortgage interest rate is 5%. (The mortgage was taken out on May 1.)5.Unearned rent of $2,586 has been earned.6.Salaries of $751 are accrued and unpaid at May 31.(a) Journalize the adjusting entries on May 31.(b) Prepare a ledger using T-accounts. Enter the trial balance

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