Exercises 133 E3-1(LO3) (Adjusting Entries) Greco Resort opened for business onlusel with eighe areendisaederatstrial balance on August 31 is as follows Debit s 19,600 Prepaid Insurance Buildings 5 4,500 Accounts Payable Uneamed Rent Revea Mortgage Payable Common Sock Retained Eamings Dividends Rent Revenue Salaries and Wages Expense Utilities Expenses Maintemance and Repairs Expense 9,000 5,000 ry, 44.800 9,200 245,300 245,300 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 $450 of supplies on hand. 3. Annual depreciat tion rates are buildings (4%) and equipment (10%). Salvage value is estimated to be 10% of cost. Unearned Rent Revenue of $3,800 was earned prior to August 31. 5. Salaries of $375 were unpaid at August 6 Rentals of $800 were due from tenants at August 31 7. The mortgage interest rate is 8% per year. 31. Instructions (a) Journalize the adjusting entries on August 31 for the 3-month period June 1-August 31.(Omit explanations) (b) Prepare an adjusted trial balance on August 31