a. On March 1, Air and Sea Tree Service prepaid $6,000 for six months' rent. Give the adjusting entry to record rent expense at March 31. Include the date of the entry and an explanation. Then post all amounts to the two accounts involved, and show their balances at March 31. Air and Sea adjusts the accounts only at March 31, the end of its fiscal year. b. On March 1, Air and Sea Tree Service paid $900 for supplies. At March 31, Air and Sea has $700 of supplies on hand. Make the required journal entry at March 31. Then post all amounts to the accounts and show their balances at March 31. Assume no beginning balance in supplies. a. On March 1, Air and Sea Tree Service prepaid $6,000 for six months' rent. Give the adjusting entry to record rent expense at March 31. Include the date of the entry and an explanation. Then post all amounts to the two accounts involved, and show their balances at March 31. Air and Sea adjusts the accounts only at March 31, the end of its fiscal year. Prepare the adjusting journal entry to record the rent expense at March 31. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journal Entry Date Accounts and Explanations Debit Credit Mar 31 Rent Expense Prepaid Rent To record rent expense. Post the March 1 and 31 transactions to the following T-accounts. Be sure to calculate the ending balance of the accounts. Prepaid Rent Rent Expense Mar Mar Mar Mar Bal Bal b. On March 1, Air and Sea Tree Service paid $900 for supplies. At March 31, Air and Sea has $700 of supplies on hand. Make the required journal entry at March 31. Then post all amounts to the accounts and show their balances at March 31. Assume no beginning balance in supplies. Prepare the adjusting journal entry to record the supplies expense at March 31. Journal Entry b. On March 1, Air and Sea Tree Service paid $900 for supplies. At March 31, Air and Sea has $700 of supplies on hand. Make the required journal entry at March 31. Then post all amounts to the accounts and show their balances at March 31. Assume no beginning balance in supplies. Prepare the adjusting journal entry to record the supplies expense at March 31. Journal Entry Accounts and Explanations Debit Credit Date Mar 31 L Post the March 1 and 31 transactions to the following T-accounts. Be sure to calculate the ending balance of the accounts. Supplies Supplies Expense Mar Mar Mar Mar Bal Bal