6.10 (03) Adjusting Entries) Greco Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31 is as follows. Exercises 133 GRECO RESORT TRIAL BALANCE AUGUST 31, 2017 3,600 Cash Debit Credit Prepaid Insurance $ 19,600 Supplies 4.500 Land 2.600 Buildings 20,000 Equipment 120.000 Accounts Payable 16,000 Unearned Rent Revenue $ 4,500 Mortgage Payable 4,600 Common Stock 60,000 Retained Earnings 91.000 Dividends 9,000 5,000 Rent Revenue Salaries and Wages Expense 76,200 44.800 Utilities Expenses 9.200 Maintenance and Repairs Expense $245,300 $245,300 Other data: 1. The balance in prepaid insurance is a one-year premium paid on June 1, 2017. 2. An inventory count on August 31 shows $450 of supplies on hand. 3. Annual depreciation rates are buildings (4%) and equipment (10%). Salvage value is estimated to be 10% of cost. ASR 4. Unearned Rent Revenue of $3,800 was earned prior to August 31. study more 5. Salaries of $375 were unpaid at August 31. 6. Rentals of $800 were due from tenants at August 31. Study More 7. The mortgage interest rate is 8% per year. Study Moll Instructions (a) Journalize the adjusting entries on August 31 for the 3-month period June 1-August 31. (Omit explanations.) or b (b) Prepare an adjusted trial balance on August 31