Debits Credits $14,520 100 Prepaid insurance 7,620 110 Supplies 97,940 120 Equipment $32,890 121 Accumulated depreciation-equipment 70,560 200 Bank loan 210 39,690 Rent revenue received in advance 400 236.850 Rent revenue 500 Interest expense 510 Wage expense 59.860 An analysis of the accounts shows the following. 1. The equipment depreciates $1,580 per month. 2. The rent revenue received in advance was for the 9 months commencing 1 April. 3. Interest of $990 is accrued on the bank loan. 4. Supplies on hand total $2.950. 5. The benefits of prepaid insurance expire at the rate of $1,210 per month. Debit Credit Date Account and explanation Post rel. June 30 (Depreciation for the quarter) June 30 (Rent revenue April-June now revenue) | II II III June 30 (Accrued interest) June 30 (Supplies used) June 30 (Insurance expense for the 3 months to June)