Debit Credit Prepaid Insurance $ 14.,400 Supplies 3,600 Equipment 18,750 Accumulated Depreciation-Equipment $ 8,300 Notes Payable 25,000 Unearned Rent Revenue 10,800 Rent Revenue 58,000 Interest...

The ledger of Oriole Rental Agency on March 31 of the current year includes the selected accounts, shown below, before adjusting entries have been prepared.


Extracted text: Debit Credit Prepaid Insurance $ 14.,400 Supplies 3,600 Equipment 18,750 Accumulated Depreciation-Equipment $ 8,300 Notes Payable 25,000 Unearned Rent Revenue 10,800 Rent Revenue 58,000 Interest Expense Salaries and Wages Expense 14,000 An analysis of the accounts shows the following. 1. The equipment depreciates $ 300 per month. One-third of the unearned rent revenue was earned during the quarter. 2. 3. Interest of $ 625 is accrued on the notes payable. 4. Supplies on hand total $ 670. 5. Insurance expires at the rate of $ 800 per month. Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are Depreciation Expense, Insurance Expense, Interest Payable, and Supplies Expense. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Mar. 1. 31 Mar. 2. 31 Mar. 3. 31 Mar. 4. 31 Mar. 5. 31