Please prepare the journal entries.

DATE Account Titles Debit Credit

P4-12B The following is the unadjusted trial balance for Rocky Mountain Resort Inc. At its year end, August 31, 2018. The company adjusts its accounts annually.(the question page 227 from financial accounting by kimmel canadian 7th edition) Debit Credit Cash $38,820 6,990 Supplies Prepaid insurance 12,720 Land 70,000 290,000 Buildings Accumulated depreciation-buildings $87,000 Furniture Accumulated depreciation-furniture 22,880 Accounts payable 57,200 13,000 Unearned revenue 71,000 Mortgage payable, due 2021 120,000 Common shares 40,000 Retained earnings 72,000 Divindeds declared 10,000 Rent revenue 497,000 Salaries expense 306,000 Utilities expense 75,200 Repairs and maintenance expense 28,250 Interest expense 7,700 Income tax expense 20,000 $922,880 $922,880 Additional information: 1- The one-year insurance policy was purchased on May 31 for $12,720 2- A count of supplies on August 31 shows $1,380 of supplies on hand. 3 The building have an estimated useful life of 50 years and straight-line depreciation is applied. 4- The furniture has an estimated useful life of 10 years and straight line depreciation is applied. 5 - Customers must pay a $200 deposit if they want to book a cottage during the peak period. An analysis of these booking indicates 355 deposits were received and credited to Unearned Revenue. Only 45 of these deposits have not been earned by August 31. 6- Salaries of $1,680 were unpaid at August 31. 7- The August utility bill of $3,120 has not yet been recorded or paid. 8- On August 25, a local business contracted with Rocky Mountain to rent one of the cottages for six months, starting October1, at a rate of $3,000 per month. An advance payment equal to two months' (October and November) rent was received on August 31 and credited to Rent Revenue. 9- Interest on the mortgage payable is $700 for the month of August and due September 1. 10- Income tax payable is estimated to be $2,000. 11 - During the month of May, $5,000 of common shares were issued (Note: this has already been recorded.)