Exercise 3-10 (Part Level Submission) Pearl Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31 is as follows. PEARL RESORT TRIAL BALANCE AUGUST 31, 2017 Debit Credit Cash $24,700 Prepaid Insurance 9,600 Supplies 7,700 Land 24,000 124,000 Buildings Equipment 20,000 Accounts Payable $9,600 Unearned Rent Revenue 9,700 Mortgage Payable 64,000 Common Stock 100,100 Retained Earnings 9,000 Dividends 5,000 80,200 Rent Revenue Salaries and Wages Expense 44,800 Utilities Expenses 9,200 Maintenance and Repairs Expense 3,600 $272,600 $272,600 Totals 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 $467 of supplies on hand 3. Annual depreciation rates are (a) buildings (4%) (b) equipment (10%) Salvage value is estimated to be 10% of cost. 4. Unearned Rent Revenue of $3,476 was earned prior to August 31 5. Salaries of $346 were unpaid at August 31. 6. Rentals of $802 were due from tenants at August 31. (Use Accounts Receivable account.) 7. The mortgage interest rate is 8% per year (a) 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 Joumalize the adiusting entries on August: not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) entered. Do Account Titles and Explanation Debit No. Date Credit 1. Aug. 31 Aug. 31 3. (a) Aug. 31 3. (b) Aug. 31 4 Aug. 31 Aug. 31 Aug. 31 7 Aug. 31