1.prepare quarterly adjusting entries required at March 31st

Debit Credit insurance 15.240 2,890 22,200 Supplies Equipment Accumulated depreciation-equipment Unearned revenue Loan payable, due 2020 Rent revenue Salaries expense $ 5,800 9,640 20,300 30,300 14,400 An analysis of the accounts shows the following 1. The equipment, which was purchased on January 1,2017, is estimated to have a useful life of four years. The company uses straight-line depreclatiorn 2. One third of the unearned revenue related to rent is still unearned at the end of the quarter. The loan payable has an interest rate of 6% interest is paid on the first day of each following month and was last paid March 1, 2018. 4. Supplies on hand total $870 at March 31. 5. The one-year insurance policy was purchased for $ 15,240 on January 1. 6. Income tax is estimated to be $ 2,800 for the quarter