CoronadoResort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31 is as follows.

CORONADORESORT

TRIAL BALANCE

AUGUST 31, 2017

Debit

Credit

Cash$24,700Prepaid Insurance9,600Supplies7,700Land24,000Buildings124,000Equipment20,000Accounts Payable$9,600Unearned Rent Revenue9,700Mortgage Payable64,000Common Stock100,100Retained Earnings9,000Dividends5,000Rent Revenue80,200Salaries and Wages Expense44,800Utilities Expenses9,200Maintenance and Repairs Expense3,600Totals$272,600

$272,600

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 $467of supplies on hand.3.Annual depreciation rates are

(a) buildings (4%)

(b) equipment (10%).

Salvage value is estimated to be10% of cost.4.Unearned Rent Revenue of $3,476was earned prior to August 31.5.Salaries of $346were unpaid at August 31.6.Rentals of $802were due from tenants at August 31. (Use Accounts Receivable account.)7.The mortgage interest rate is8% per year.

Part 1

Journalize the adjusting entries on August 31 for the 3-month period June 1-August 31.(Round answers to the nearest whole dollar, e.g. 5,275. 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 0 for the amounts.)

No.

Date

Account Titles and Explanation

Debit

Credit

1.Aug. 31

2.Aug. 31

3.(a)Aug. 31

3.(b)Aug. 31

4.Aug. 31

5.Aug. 31

6.Aug. 31

7.Aug. 31

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Part 2

adjusted trial balance on August 31.

CORONADORESORT

Adjusted Trial Balance

August 31, 2017

Debit

Credit

$

$

Totals$

$