After retiring from working in the high-tech industry, Albert Forges borrowed $74,800 and started a cottage rental business on June 1, 2017. The trial balance for Blue Spruce Cottages on August 31, 2017 is as follows: Blue Spruce Cottages Unadjusted Trial Balance August 31, 2017 Debit Credit Cash $6,410 Prepaid Insurance 3,728 Supplies 1,740 Land 18,600 Buildings 137,000 Furniture 16,000 Accounts Payable $4,400 Unearned Revenue 4,800 Notes Payable 74,800 A. Forges, Capital 86,000 A. Forges, Drawings 4,800 Rent Revenue 77,178 Salaries Expense 46,500 Utilities Expense 9,000 Repairs Expense 3,400 $247,178 $247,178 Other data: 1. 2. 3. 4. The balance in Prepaid Insurance is a one-year premium paid on June 1, 2017. A count on August 31 shows $600 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 $3,600 for rent was earned prior to August 31. Salaries of $415 were unpaid at August 31. Rental fees of $800 were due from tenants at August 31 (Use Accounts Receivable A/c). The note payable interest rate is 5% per year. 5. 6. 7. 8. Journalize the adjusting entries on August 31 for the three-month period June 1 to August 31. (Round answers to O decimal places, e.g. 152. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) No. Date Account Titles and Explanation Debit Credit 1. Aug. 31 2. Aug. 31 V 3. Aug. 31 V 4. Aug. 31 V 5. Aug. 31 6. Aug. 31 V