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Coronado Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31 is as follows. Cash Prepaid Insurance Supplies
Coronado Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31 is as follows. Cash Prepaid Insurance Supplies Land Buildings Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable CORONADO RESORT Trial Balance August 31, 2025 Common Stock Debit $23,200 8,100 6,200 24,000 124,000 20,000 Credit $8,100 8,200 64,000 107,600 need the entries journalized Coronado Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31 is as follows. Other data: 1. The balance in prepaid insurance is a one-year premium paid on June 1.2025 2. An inventory count on August 31 shows $471 of supplies on hand. 3. Annual depreciation rates are (a) buildings ( 4% ) and (b) equipment (10aG). Salvage value is estimated to be 10% of cost. 4. Unearned Rent Revenue of $3,916 was earned prior to August 31. 5. Salaries of $383 were unpaid at August 31. 6. Rentals of $757 were due from tenants at August 31. 7. The mortgage interest rate is 8% per year. (a) Joumalize the adjusting entries on August 31 for the 3-month period June 1-August 31. (Round answers to the nearest whole dollar, e-3. 5,275. Do not round intermediate calculotions. 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 ofor the amounts. List all debit entries before credit entries.)
Coronado Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31 is as follows. Cash Prepaid Insurance Supplies Land Buildings Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable CORONADO RESORT Trial Balance August 31, 2025 Common Stock Debit $23,200 8,100 6,200 24,000 124,000 20,000 Credit $8,100 8,200 64,000 107,600
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