1. Insurance expires at the rate of $400 per month.
2. A count on August 31 shows $900 of supplies on hand.
3. Annual depreciation is $4,800 on cottages and $2,400 on furniture.
4. Unearned rent of $5,100 was earned prior to August 31.
5. Salaries of $400 were unpaid at August 31.
6. Rentals of $800 were due from tenants at August 31. (Use Accounts Receivable.)
7. The mortgage interest rate is 12% per year. (The mortgage was taken out on August 1.)