Please help in solving Part C of the below question. PLEASE follow the exact same format for answer, as given in the question.

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PART C- Need help in solving this

Part c- Need help in solving this

The following is the unadjusted trial balance for Pharoah Lodge Ltd. at its year end, May 31, 2024. The company adjusts its accounts monthly. \begin{tabular}{|c|c|c|} \hline Mortgage payable, due 2027 & & 132,000 \\ \hline Common shares & & 60,000 \\ \hline Retained earnings & & 45,720 \\ \hline Dividends declared & 1,830 & \\ \hline Rent income & & 208,494 \\ \hline Salaries expense & 102,550 & \\ \hline Utilities expense & 25,800 & \\ \hline Depreciation expense & 14,550 & \\ \hline Interest expense & 9,120 & \\ \hline Insurance expense & 6,440 & \\ \hline Advertising expense & 930 & \\ \hline \multirow[t]{2}{*}{ Income tax expense } & 6,700 & \\ \hline & $515,894 & $515,894 \\ \hline \end{tabular} 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 month's 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. 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.) 3. 31 Depreciation Expense 765 Accumulated Depreciation - Buildings \begin{tabular}{|r|} \hline \\ \hline 610 \end{tabular} 765 4. 31 Depreciation Expense Accumulated Depreciation - Furniture 610 5. 31 Deferred Revenue 2500 Rent Income 2500 6. 31 Rent Expense 2682 Rent Payable \begin{tabular}{r} 2682 \\ \\ \\ \hline \end{tabular} 2682 7. 31 Accounts Receivable 1645 Rent Income 1645 8. 31 Salaries Expense 1650 Salaries Payable 1650 9. 31 Interest Expense Interest Payable 770 10. 31 Utilities Expense 2157 770 Rent Payable 2157 11. 31 Income Tax Expense 1020 2157 2157 \begin{tabular}{|r|} \hline \\ \hline \\ \hline 2157 \\ \hline \\ \hline 1020 \\ \hline \end{tabular} Income Tax Payable 1020 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.) Prepaid Insurance \begin{tabular}{|c|c|c|c|} \hline May 31 Bal. & 4600 & May 31 Adj. & 920 \\ \hline May 31 Bal. & 3680 & & \\ \hline \multicolumn{4}{|c|}{ Land } \\ \hline May 31 Bal. & 100120 & & \\ \hline \multicolumn{4}{|c|}{ Buildings } \\ \hline May 31 Bal. & 183600 & & \\ \hline \end{tabular} Accumulated Depreciation - Buildings \begin{tabular}{|c|c|c|c|} \hline & & May 31 Bal. & 22700 \\ \hline & & May 31 Adj. & 765 \\ \hlinev & & May 31 Bal. & 23465 \\ \hline \multicolumn{4}{|c|}{ Furniture } \\ \hline May 31 Bal. & 36600 & v & \\ \hline \multicolumn{4}{|c|}{ Accumulated Depreciation - Furniture } \\ \hline & & May 31 Bal. V & 20100 \\ \hline 2 & & May 31Adj. V & 610 \\ \hline 2 & & May 31 Bal. & 20710 \\ \hline \end{tabular} Accounts Payable \begin{tabular}{|c|c|c|} \hline v & May 31 Bal. & 8880 \\ \hline v & May 31 Adj. & 2157 \\ \hline v & May 31 Bal. & 11037 \\ \hline \end{tabular} Salaries Payable \begin{tabular}{|c|c|c|} \hline & May 31Adj. & 1650 \\ \hlinev & May 31 Bal. & 1650 \\ \hline \end{tabular} Interest Payable May 31 Adj. 770 May 31 Bal. 770 Income Tax Payable \begin{tabular}{|c|c|c|c|} \hline & & May 31 Adj. & 1020 \\ \hline & & May 31 Bal. & 1020 \\ \hline \multicolumn{4}{|c|}{ Deferred Revenue } \\ \hline May 31Adj. & 2500 & May 31 Bal. & 18000 \\ \hline & & May 31 Adj. & 2682 \\ \hline & & May 31 Bal. & 18182 \\ \hline \multicolumn{4}{|c|}{ Mortgage Payable } \\ \hline & & May 31Bal. & 132000 \\ \hline \end{tabular} Common Shares May31Bal. 60000 Retained Earnings May31Bal. 45720 Dividends Declared May 31 Bal. 1830 \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Rent Income } \\ \hline May 31Adj. & 2682 & May 31 Bal. & 208494 \\ \hline & & May 31Adj. & 2500 \\ \hline & & May 31 Adj. & 1645 \\ \hline & & May 31 Bal. & 209957 \\ \hline \multicolumn{4}{|c|}{ Salaries Expense } \\ \hline May 31 Bal. & 102550 & & \\ \hline May 31 Adj. & 1650 & & \\ \hline May 31 Bal. & 104200 & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ Utilities Expense } \\ \hline May 31 Bal. & 25800 & \\ \hline May 31 Adj. & 2157 & \\ \hline May 31 Bal. & 27957 & \\ \hline \multicolumn{3}{|c|}{ Interest Expense } \\ \hline May 31 Bal. & 9120 & \\ \hline May 31 Adj. & 770 & \\ \hline May 31 Bal. & 9890 & v \\ \hline \end{tabular} Insurance Expense Income Tax Expense \begin{tabular}{|c|c|c|} \hline May 31 Bal. & 6700 & \\ \hline May 31Adj. & 1020 & \\ \hline May 31 Bal. & 7720 & \\ \hline \end{tabular} Totals (c) Prepare an adjusted trial balance at May 31. PHAROAHLODGE LTD. Adjusted Trial Balance For the Month Ended May 31, 2024 Credit For the Year Ended May 31, 2024 May 31, 2024 $