Waterway Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31 is as follows. WATERWAY RESORT TRIAL BALANCE AUGUST 31, 2020 Debit Credit Cash $25,300 Prepaid Insurance 10,200 Supplies 8.300 Land 28,000 Buildings 128,000 Equipment 24,000 Accounts Payable $10.200 Unearned Rent Revenue 10,300 Mortgage Payable 68,000 Common Stock 104,700 9,000 Retained Earnings Dividends 5,000 Rent Revenue 84,200 Salaries and Wages Expense 44,800 9.200 Utilities Expenses Maintenance and Repairs Expense 3,600 $286,400 $286,400 Other data: 1. The balance in prepaid insurance is a one-year premium paid on June 1, 2020. 2. 3. An inventory count on August 31 shows $445 of supplies on hand. Annual depreciation rates are (a) buildings (4%) (b) equipment (10%). Salvage value is estimated to be 10% of cost. 4. Unearned Rent Revenue of $4,172 was earned prior to August 31. Salaries of $365 were unpaid at August 31. 5. 6. Rentals of $843 were due from tenants at August 31. (Use Accounts Receivable account.) 7. The mortgage interest rate is 8% 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, eg. 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 O for the amounts.) No. Date Account Titles and Explanation Debit Credit 1. Aug. 31 Insurance Expense 2550 Prepaid Insurance 2550 Aug. 2. Supplies Expense 7855 31 Supplies 7855 3. (a) Aug. 31 Depreciation Expense 1152 Accumulated Depreciation-Building 1152 3. (b) Aug. 31 Depreciation Expense 540 Accumulated Depreciation Equipment 540 Aug. 4. Unearned Rent Revenue 4172 31 Rent Revenue 4172 5. Aug. 31 Salaries and Wages Expense 365 Salaries and Wages Payable 365 6. Aug. 31 Accounts Receivable 843 Rent Revenue 843 7. Aug. 31 Interest Expense 1360 Interest Payable 1360 WATERWAY RESORT Adjusted Trial Balance V Debit Credit $ $ Totals $ $