Problem-1 P3-1B Ken Ham started his own consulting firm, Hambone Consulting. on May 1, 2010. The trial balance at May 31 is as follows. HAMBONE CONSULTING Trial Balance May 31, 2010 Account Number Debit Credit 101 Cash $ 5,700 112 Accounts Receivable 6,000 Supplies 1,900 130 Prepaid Insurance 3,600 149 Office Furniture 10,200 201 Accounts Payable $ 4,500 209 Unearned Service Revenue 2,000 301 K. Ham, Capital 17,700 400 Service Revenue 7,500 726 Salaries Expense 3,400 729 Rent Expense 900 $31,700 $31,700 126 Other data: 1. $900 of supplies have been used during the month. 2. Travel expense incurred but not paid on May 31, 2010, $250. 3. The insurance policy is for 2 years. 4. $400 of the balance in the unearned service revenue account remains unearned at the end of the month. 5. May 31 is a Wednesday, and employees are paid on Fridays. Hambone Consulting has two employees, who are paid $800 each for a 5-day work week. 6. The office furniture has a 5-year life with no salvage value. It is being depreciated at $170 per month for 60 months. 7. Invoices representing $1,200 of services performed during the month have not been recorded as of May 31. Instructions (a) Prepare the adjusting entries for the month of May. Use J4 as the page number for your journal. (b) Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances and place a check mark in the posting reference column. (e) Prepare an adjusted trial balance at May 31, 2010