Comprehensive Problem $1$

Part $4$ and Part $6$:

The following is a comprehensive problem which encompasses all of the elements learned in previous chapters. You can refer to the objectives for each chapter covered as a review of the concepts. Note: You must complete parts $1,2$ and $3$ before completing parts $4$ and $6.$ Please note that part $5$ is optional.

Part $4$: At the end of May, the following adjustment data were assembled. Analyze and use these data to complete parts $(5)$ and $(6).$

a$.$ Insurance expired during May is $$275.$

b$.$ Supplies on hand on May $31$ are $$715.$

c$.$ Depreciation of office equipment for May is $$330.$

d$.$ Accrued receptionist salary on May $31$ is $$325.$

e$.$ Rent expired during May is $$1,600.$

f$.$ Unearned fees on May $31$ are $$3,210.$

Part $6$: Journalize the adjusting entries. Then, post the entries to the attached spreadsheet from part $2.$ If an amount box does not require an entry, leave it blank.

a$.$ Insurance expired during May is $$275.$

$\backslash$table$[[$Account Name,Post. Ref.,Debit,Credit$],[$Insurance Expense,$,,,],[$Prepaid Insurance,$,,,]]$

b$.$ Supplies on hand on May $31$ are $$715.$

$\backslash$table$[[$Account Name,Post. Ref.,Debit,Credit$],[$Supplies Expense,$v,,x$