On August 1, 2014, Delanie Tugut began a tour company in the Northwest Territories called Tugut Arctic Tours. The following occurred during the first month of operations Aug. 1 Purchased office furniture on account; $5,300 1 Delanie Tugut invested $7,100 cash into her new business 2 Collected $4,050 in advance for a three-week guided caribou hunt beginning the last week of August. 3 Paid $6,150 for six months' rent for office space effective August 1 4 Received $3,100 for a four-day northern lights viewing tour just completed 7 Paid $1,550 for hotel expenses regarding the August 4 tour. 15 Delanie withdrew cash of $600 for personal use 22 Met with a Japanese tour guide to discuss a $155,000 tour contract. 31 Paid wages of $1,310 Using the following information, prepare the adjusting entries on August 31. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.) a. The office furniture has an estimated life of four years and a $260 residual value. b. Two-thirds of the August 2 advance has been earned c. One month of the Prepaid Rent has been used d. The August telephone bill was not received as of August 31 but amounted to $330