Exercise 3-10 Uhura Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31 is as follows. 31, 2012 Debit Credit Cash $24,350 Prepaid Insurance 9,250 Supplies 7,350 Land 27,000 Buildings 127,000 Equipment 23,000 Accounts Payable $9,250 Unearned Rent Revenue 9,350 Mortgage Payable 57,000 Common Stock 111,750 Dividends 5,000 Rent Revenue 93,200 Salaries and Wages Expense 44,800 Utilities Expenses 9,200 Maintenance and Repairs Expense 3,600 $280,550 $280,550Other data: 1. The balance in prepaid insurance is a one-year premium paid on June 1, 2012. 2. An inventory count on August 31 shows $712 of supplies on hand. 3. Annual depreciation rates are(a) buildings (4%)(b) equipment (10%).Salvage value is estimated to be 10% of cost. 4. Unearned Rent Revenue of $4,029 was earned prior to August 31. 5. Salaries of $431 were unpaid at August 31. 6. Rentals of $891 were due from tenants at August 31. 7. The mortgage interest rate is 8% per year.