1. The ledger of Hammond Company, on March 31, 2017, includes these selected accounts before adjusting entries are prepared. (5 Marks) Debit Credit Prepaid Insurance $ 7,200 Supplies 5,600 Equipment 50,000 Accumulated Depreciation-Equipment $10,000 Unearned Service Revenue 18,400 An analysis of the accounts shows the following. 1. Insurance expires at the rate of $200 per month. 2. Supplies on hand total $1600. 3. The equipment depreciates $400 a month. 4. During March, services were performed for one-half of the unearned service revenue. Prepare the adjusting entries for the month of March