Greco Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31 is as follows.Greco ResortTrial BalanceAugust 31, 2020DebitCreditCash$ 19,600Prepaid Insurance4,500Supplies2,600Land20,000Buildings120,000Equipment16,000Accounts Payable$ 4,500Unearned Rent Revenue4,600Mortgage Payable60,000Common Stock91,000Retained Earnings9,000Dividends5,000Rent Revenue76,200Salaries and Wages Expense44,800Utilities Expenses9,200Maintenance and Repairs Expense3,600$245,300$245,300

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 $450 of supplies on hand.3. Annual depreciation rates are buildings (4%) and equipment (10%). Salvage value is estimated to be 10% of cost.4. Unearned Rent Revenue of $3,800 was earned prior to August 31.5. Salaries of $375 were unpaid on August 31.6. Rentals of $800 were due from tenants on August 31.7. The mortgage interest rate is 8% per year. Instructions.

a. Journalize the adjusting entries on August 31 for the 3-month period June 1August 31. (Omit explanations.)

b. Prepare an adjusted trial balance on August 31.

C. prepares a classified balance sheet based on the adjusted trial balance.

D. Prepare a single-step income statement based on the adjusted trial balance.