Vizquel Resort opened for business on June 1. It has already recorded and posted its regular transactional entries from June 1st through August 31st, leading to the balances reported below in its August 31st trial balance. Now it is time for them to record their adjusting entries. (Amounts in 000's.) VIZQUEL RESORT TRIAL BALANCE AUGUST 31, 20xx Credit Debit $ 1,960 440 260 2,000 12,000 1,600 Cash Prepaid Insurance Supplies Land Buildings Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable Common Stock Retained Earnings Dividends Rent Revenue Salaries and Wages Expense Utilities Expense Maintenance and Repairs Expense $ 450 460 6,000 9,100 890 500 7,620 4.480 920 360 $ 24,520 $ 24,520 Other data: 1. The balance in prepaid insurance is a one-year premium paid on June 1. 2. An inventory count on August 31 shows $45 of supplies on hand. 3. Annual depreciation rates are buildings (10%) and equipment (15%). Salvage value is estimated to be 10% of cost for both. 4. Unearned Rent Revenue of $380 was earned prior to August 31. 5. Salaries of $38 were unpaid at August 31. 6. Rentals of $400 were due from tenants at August 31. 7. The mortgage interest rate is 6% per year. Required: (a) Journalize the adjusting entries (in proper journal entry form) on August 31 for the 3-month period of June 1-August 31. (And please note that in your entries, you will have to create/use some accounts that are not listed in the above trial balance.) (b) Notice that your adjusting journal entries above have resulted in updated (adjusted) account balances for several accounts. Therefore, prepare an adjusted trial balance (listing all of the accounts with their current balances) on August 31. An example of an adjusted trial balance can be found on p. 30 of Chapter 3 in the textbook