Question 1: Greco Resort opened for business on October 1, 2019. Its un-adjusted trial balance after 3 months on December 31, 2019 is as follows: GRECO RESORT Un-Adjusted TRIAL BALANCE December 31, 2019 Debit Credit Cash 19,600 Prepaid Insurance 4,500 Supplies 2,600 Land 20,000 Buildings 120,000 Furniture 16,000 Accounts Payable 4,500 Unearned Rent Revenue 4,600 Notes payable 60,000 Share Capital 91,000 Retained Earnings 9,000 Dividends 5,000 Rent Revenue 76,200 Salaries Expense 44.800 Utilities Expense 9,200 Repair Expense 3,600 $245,300 $245,300 Other data: 1. The balance in prepaid insurance is a one-year premium paid on October 1, 2019. 2. An inventory count on December 31 shows S450 of supplies on hand. 3. Depreciation lives are as follows: Buildings (25 years) and Furniture (10 years). 4. Uneamed Rent Revenue of $3,800 was earned at December 31. 5. Salaries of $375 were unpaid at December 31 (not recorded). 6. Rent revenue of $800 was due at December 31 (not recorded) 7. Accrued interest is 8% on the Notes payable. Required (a) Journalize the adjusting entries on December 31, 2019. (b) Prepare the Income Statement for the period ended 31, December 2019