The Highland Beach Resort opened for business on April 1" with eight air-conditioned units. Its trial balance on June 30 is as follows: SPRINGS BEACH RESORT Trial Balance June 30, 2018 Debit Cash Credit Prepaid Insurance $19,600 5,400 Supplies 3,300 Land 20,000 Cottages 130,000 Furniture 26,000 Accounts Payable $ 6,500 Unearned Rent Revenue 6,800 Mortgage Payable 80,000 Common Stock 75,000 Retained Earnings Dividends Rent Revenue Salaries Expense 25,000 5,000 80,000 51,000 Utilities Expense Advertising Expense Other data: 9,400 3,600 $273,300 $273.300 1. Unearned rent of $4,800 was still unearned at June 30th. 2. An inventory count on June 30th shows $1,190 of supplies on hand. 3. Insurance expires at the rate of $500 per month. 4. Annual depreciation is $24,000 on cottages and $1,200 on the furniture. 5. Rentals of $1,170 were due from tenants at June 30th (Use Rent Receivable) 6. Salaries of $1,940 were unpaid at June 30th. 7. Interest accrued on the Mortgage Payable at June 30th is $1,200. Instructions (a) Journalize the adjusting entries on June 30 for the three-month period April 1-June 30. (b) Open the ledger accounts, entering the trial balance amounts and post the adjusting entries. (Use J1 as the posting reference.) (c) Prepare the financial statements (Income Statement, Statement of Retained Earnings and Classified Balance Sheet) for the 3-months ended June 30th (d) Journalize the closing entries and post to the ledger accounts