Adjusting Entries The Wheel Place, Inc, began operations on March 1 to provide automotive wheel alignment and balancing services. On March 31, 2012, the undiusted balances of the firm's accounts are as follows: THE WHEEL PLACE, INC. Unadjusted Trial Balance March 31, 2012 Debit Credit Cash $1,900 Accounts Receivable 3.820 Prepaid Rent 4,770 Supplies 3,700 Equipment 36.000 Accounts Payable 2330 Unearned Service Revenue 1.000 Common Stock 38,400 Service Revenue 12360 Wages Expense 3.900 Totals $54,090 $54,090 The following information is also available: 1. The balance in Prepaid Rent was the amount paid on March 1 for the first 3 months rent. 2. Supplies on hand on March 31 were $1,920. 3. The equipment, has an estimated life of 6 years. 4. Unpaid wages at March 31 were $650, 5. Utility services used during March were estimated at $390. A bill is expected early in April 6. The balance in Unearned Service Revenue was the amount received on March 1 from a new car dealer to cover alignment and balancing services on all new cars sold by the dealer in March and April. The Wheel Place agreed to provide the services at a fixed fee of $570 each month. Required Prepare the adjusting entries needed at March 31 in general journal form. General Journal Description Ref. Debit Credit March 31 To record March rent expense To record March supplies expense To record March depreciation To record unpaid wages at March 31 To record estimated March uities expense. To record portion of revenue received in advance that was earned in March