Vaughn Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31 is as follows.

VAUGHN RESORT

TRIAL BALANCE

AUGUST 31, 2017

Debit

Credit

Debit Cash$24,700 Prepaid Insurance9,600 Supplies7,700 Land24,000 Buildings124,000 Equipment20,000

Credit Accounts Payable$9,600 Unearned Rent Revenue9,700 Mortgage Payable64,000 Common Stock100,100 Retained Earnings9,000 DebitDividends5,000 CreditRent Revenue80,200 DebitSalaries and Wages Expense44,800 Utilities Expenses9,200 Maintenance and Repairs Expense3,600

Totals$272,600

$272,600

Other data:

1.The balance in prepaid insurance is a one-year premium paid on June 1, 2017.2.An inventory count on August 31 shows $467 of supplies on hand.3.Annual depreciation rates are

(a) buildings (4%)

(b) equipment (10%).

Salvage value is estimated to be10% of cost.4.Unearned Rent Revenue of $3,476 was earned prior to August 31.5.Salaries of $346 were unpaid at August 31.6.Rentals of $802 were due from tenants at August 31. (Use Accounts Receivable account.)7.The mortgage interest rate is8% per year.

Journalize the adjusting entries on August 31 for the 3-month period June 1-August 31.(Round answers to the nearest whole dollar, e.g. 5,275. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)