Do It! Review 3-2

The ledger of Herrera, Inc. on March 31, 2015, includes the following selected accounts before adjusting entries.

		Debit		Credit
Prepaid Insurance		2,481
Supplies		2,831
Equipment		32,578
Unearned Service Revenue				9,900

An analysis of the accounts shows the following.

1.		Insurance expires at the rate of $355 per month.
2.		Supplies on hand total $1,020.
3.		The equipment depreciates $461 per month.
4.		During March, services were performed for two-fifths of the unearned service revenue.

Prepare the adjusting entries for the month of March.