Exercise 3-10 Tamarisk Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31 is as follows. Credit TAMARISK RESORT TRIAL BALANCE AUGUST 31, 2020 Debit Cash $24,400 Prepaid Insurance 9,300 Supplies 7,400 Land 22,000 Buildings 122,000 Equipment 18,000 Accounts Payable Unearned Rent Revenue Mortgage Payable Common Stock Retained Earnings Dividends 5,000 Rent Revenue Salaries and Wages Expense 44,800 Utilities Expenses 9,200 Maintenance and Repairs Expense 3,600 $265,700 $9,300 9,400 62,000 97,800 9,000 78,200 $265,700 Other data: 1. The balance in prepaid insurance is a one-year premium paid on June 1, 2020, 2. An inventory count on August 31 shows $447 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 $3,829 was earned prior to August 31, 5. Salaries of $382 were unpaid at August 31. 6. Rentals of $789 were due from tenants at August 31. (Use Accounts Receivable account.) 7. The mortgage interest rate is 8% per year. Your answer is partially correct. Try again. Prepare an adjusted trial balance on August 31. TAMARISK RESORT