Stellar Inn opened for business on June 1, with eight air- conditioned units. Its trial balance before adjustments on August 31 of the same year is as follows: Debit Credit Cash $19,500 Accounts 4,160 Receivable Supplies 3,900 Prepaid 6,240 Insurance Land 29,120 Buildings 130,000 Equipment 27,040 Accounts $ 6,500 Payable Unearned Rent 9,100 Revenue Mortgage 88,400 Payable Share Capital- 104,000 Ordinary Rent Revenue 78,000 Maintenance and 2,600 Repairs Expense Salaries and 53,040 Wages Expense Utilities Expense 10,400 Total $286,000 $286,000 Stellar Inn wants to prepare its financial statements for the first three months of operations. The following adjustments need to be made: Insurance expires at the rate of $ 520 per month but paid quarterly. 1. 2. Annual depreciation is $ 4,680 on buildings. 3 Annual depreciation is $ 1,560 on equipment. 4. The mortgage interest rate is 9 percent per year. (The mortgage was taken out on MacBook Pro C Search or type URL "1 $ % & 1 ) 2@ 3# 4 5 6 7 8 9 0