1. Prepare adjusting entries for the first quarter of the year: a. Supplies on hand at March 31" were $450. b. Accrue operating loan interest. c. Record $84 of office expenses paid out of petty cash. At March 31, there is are $166 of cash in the petty cash box. d. Record depreciation expense. The company uses straight line basis. There is no estimated residual (salvage) value. The estimated useful lives are: Computers - 3 years Software - 2 years Office equipment -5 years