At the end of May, the following adjustment data were gathered. Analyze and use these data for step 4.

a. Insurance expired during May is $200.

b. Supplies on hand on May 31 are $310.

c. Depreciation of office equipment for May is $380.

d. Accrued receptionist salary on May 31 is $210.

e. Rent expired during May is $850.

f. Unearned fees on May 31 are $3,440

4. Journalize and post the adjusting entries. Record the adjusting entries on Page 7 of the journal.

5. Prepare an adjusted trial balance. 6. Prepare an income statement, a statement of owners equity, and a balance sheet.

7. Prepare and post the closing entries. Record the closing entries on Page 8 of the journal. Indicate closed accounts by inserting a line in both Balance columns opposite the closing entry.

8. Prepare a post-closing trial balance