After retiring from working in the high-tech industry, Albert Forges borrowed $75,000 and started a cottage rental business on June 1, 2021. The trial balance for Flint Cottages on August 31, 2021 is as follows. Flint Cottages Unadjusted Trial Balance August 31, 2021 Debit Credit Cash $7,300 Prepaid Insurance 3,500 Supplies 1.900 Land 19,000 Buildings 140,000 Furniture 16,000 Accounts Payable $4,000 Unearned Revenue 5,000 Notes Payable 75,000 A. Forges, Capital 85.000 A Forges, Drawings 4.100 4,100 84,700 A Forges, Drawings Rent Revenue Salaries Expense Utilities Expense Repairs Expense 50,000 8,600 3,300 $253,700 $253,700 Other data: 1. 2. 3. The balance in Prepaid Insurance is a one-year premium paid on June 1, 2021. A count on August 31 shows $500 of supplies on hand. Annual depreciation for buildings is based on a 25 year useful life Annual depreciation for furniture based on a 10 year useful life. Unearned Revenue of $3,500 for rent was earned prior to August 31. Salaries of $350 were unpaid at August 31. Rent revenue of $820 were due from tenants at August 31. (Use Accounts Receivable.) The note payable interest rate is 6% per year. 5. 7 8. Prepare an adjusted trial balance as at August 31. Flint Cottages Trial Balance Debit Credit > > 3 A A A