Current Attempt in Progress The ledger of Lily Rental Agency or March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Debit Credit $6,000 7,200 50,000 $16,800 40,000 24,800 120,000 28,000 Interest Expense Salaries and Wages Expense An analysis of the accounts shows the following. 1. The equipment depreciates $560 per month. 2. Half of the unearned rent revenue was earned during the quarter.