1. Spring River Resort Inc. opened for business on June 1 with eight air-conditioned units. Its trial balance before adjustment on August 31 is as follows. Credit Spring River Resort Inc. Unadjusted Trial Balance 8/31/2008 Debit $19,600 3300 6000 25000 125000 36000 Cash Supplies Prepaid Insurance Land Cottages Furniture Accounts Payable Unearned Rent Mortgage Payable Common Stock Retained Earnings Dividends Rent Revenue Repair Expense Salaries Expense Utilities Expense Total $6,500 7400 80000 100000 10000 5000 80000 3600 51000 9400 $283,900 $283,900 Adjustable entries: (1) Insurance expires at the rate of $400 per month. (2) A count of August 31 shows $900 of supplies on hand. (3) Annual depreciation is $3,600 on cottages and $2,400 on furniture. (4) Unearned rent of $4,100 was earned prior to August 31. (5) Salaries of $400 were unpaid at August 31. (6) Rentals of $800 were due from tenants at August 31. (Use Accounts Receivable.) (7) The mortgage interest rate is 9 percent per year. (The mortgage was taken out on August 1.) Instructions: Journalize the adjusting entries on August 31 for the three-month period June 1-August 31