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7 of 13 The ledger of Bonita Rental Agency on March 31 of the current year includes the selected accounts below before adjusting entries have
7 of 13 The ledger of Bonita Rental Agency on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Debit Supplies $6,900 Prepaid Insuranc 8,280 Equipment 57.500 Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revnue $ $19,320 Interest Expense Salaries and Wages Expense 46,000 28,520 . 138,000 An analysis of the accounts shows the following. 1 The equipment depreciates $644 per month. 2. Half of the unearned rent revenue was earned during the quarter. 3. Interest of $920 is accrued on the notes payable. 4. Supplies on hand total $1,955. 5. Insurance expires at the rate of $920 per month. Prepare the adjusting entries at March 31, assuming that adjusting
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