3 of 14 View Policies -120 Current Attempt in Progress Prepare adjusting entries for the following transactions. Omit explanations. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) Depreciation on equipment is $1,950. Interest incurred and owed on a loan but not paid or recorded is $700. There was a beginning balance of supplies of $470 and the company purchased $780 of office supplies during the period. At the end of the year $260 of supplies were on hand. Prepaid rent had a $5,400 normal balance prior to adjustment