Need help in solving part B. Please answer in the given table format as I am not an accounts student & I need to fill details in the exact column. The following is the unadjusted trial balance for Pharoah Lodge Ltd. at its year end, May 31, 2024. The company adjusts its accounts monthly.

		Debit		Credit
Cash		$6,564
Accounts receivable		11,160
Supplies		5,330
Prepaid insurance		4,600
Land		100,120
Buildings		183,600
Accumulated depreciationbuildings				$22,700
Furniture		36,600
Accumulated depreciationfurniture				20,100
Accounts payable				8,880
Deferred revenue				18,000
Mortgage payable, due 2027				132,000
Common shares				60,000
Retained earnings				45,720
Dividends declared		1,830
Rent income				208,494
Salaries expense		102,550
Utilities expense		25,800
Depreciation expense		14,550
Interest expense		9,120
Insurance expense		6,440
Advertising expense		930
Income tax expense		6,700
		$515,894		$515,894

Additional information:

1.		An annual insurance policy was purchased for the first time on October 1, 2023, for $11,040 cash.
2.		A count of supplies shows $1,310 of supplies on hand on May 31.
3.		The buildings have an estimated useful life of 20 years and straight-line depreciation is applied.
4.		The furniture has an estimated useful life of five years and straight-line depreciation is applied.
5.		Customers must pay a $100 deposit if they want to book a room in advance during the peak period. An analysis of these bookings indicates that 180 deposits were received and credited to Deferred Revenue. By May 31, 25 of the deposits were earned.
6.		On May 25, a local business contracted with Pharoah Lodge to rent one of its housekeeping units for four months, starting June 1, at a rate of $2,682 per month. An advance payment equal to one months rent was paid on May 25 and credited to Rent Income.
7.		On May 31, Pharoah Lodge has earned $1,645 of rent income from customers who are currently staying at the lodge. The customers will pay the amount owing only when they check out in early June.
8.		Salaries of $1,650 are unpaid at May 31.
9.		Interest on the mortgage payable is $770 for the month of May and due June 1.
10.		The May utility bill of $2,157 has not yet been recorded or paid.
11.		Additional income tax is estimated to be $1,020.

(a)

Your answer is partially correct.

Prepare adjusting journal entries for the month. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round all amounts to the nearest dollar. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

(b)

Set up T accounts, enter any opening balances, and post the adjusting journal entries prepared in the above part. (Post entries in the order of journal entries presented in the previous part.)

No Date Account Titles and Explanation Debit Credit 1. May Insurance Expense 920 Prepaid Insurance 920 2. 31 Supplies Expense 4020 Supplies 4020 \begin{tabular}{|r|} \hline \\ \hline \\ 4020 \\ \hline \end{tabular} 3. 31 Depreciation Expense 765 Accumulated Depreciation - Buildings \begin{tabular}{r} 765 \\ \hline \\ \hline \\ \hline \end{tabular} 765 4. 31 Depreciation Expense 610 Accumulated Depreciation - Furniture \begin{tabular}{|r|} \hline \\ \hline 2500 \\ \hline \end{tabular} 610 5. 31 Deferred Revenue Rent Income 2500 6. 31 Rent Expense 2682 Rent Payable 2682 7. 31 Accounts Receivable 1645 Rent Income 1645 8. 31 Salaries Expense 1650 Salaries Payable 1650 9. 31 Interest Expense 770 Interest Payable 770 10. 31 Utilities Expense 2157 Interest Payable 2157 \begin{tabular}{|r|} \hline \\ \hline 2157 \\ \hline \end{tabular} 11. 31 Income Tax Expense 1020 \begin{tabular}{|r|} \hline \\ \hline \\ \hline \end{tabular} Income Tax Payable \begin{tabular}{r} 020 \\ \\ \hline \end{tabular} 1020 Cash Accounts Receivable May31Adj. Accounts Receivable Supplies \begin{tabular}{|c|c|} \hline \multicolumn{2}{|c|}{ Supplies } \\ \hline & \\ \hline & \\ \hline \end{tabular} Prepaid Insurance Land Buildings Accumulated Depreciation - Buildings Furniture Accumulated Depreciation - Furniture \begin{tabular}{|c|c|} \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Accounts Payable Salaries Payable Interest Payable Common Shares Retained Earnings Dividends Declared Rent Income Salaries Expense Utilities Expense Interest Expense Insurance Expense Advertising Expense Supplies Expense Depreciation Expense Income Tax Expense