E3.8 (LO 2, 3), AP The ledger of Howard Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared. 1. Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense An analysis of the accounts shows the following. 1. The equipment depreciates $280 per month. 2. Half of the unearned rent revenue was earned during the quarter. 3. Interest of $400 should be accrued on the notes payable. 4. Supplies on hand total $850. 5. Insurance expires at the rate of $400 per month. Instructions Instructions Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are Depreciation Expense, Insurance Expense, Interest Payable, and Supplies Expense. E3.9 (LO 2, 3), AP Al Medina, D.D.S., opened an incorporated dental practice on January 1, 2022. During the first month of operations, the following transactions occurred. 1. Performed services for patients who had dental plan insurance. At January 31, $760 of such services was completed but not yet billed to the insurance companies. 2. Utility expenses incurred but not paid or recorded prior to January 31 totaled $450. 3. Purchased dental equipment on January 1 for $80,000, paying $20,000 in cash and signing a $60,000, 3-year note payable (interest is paid each December 31). The equipment depreciates $400 per month. Interest is $500 per month. 4. Purchased a 1-year malpractice insurance policy on January 1 for $24,000. 5. Purchased $1,750 of dental supplies (recorded as increase to Supplies). On January 31, determined that $550 of supplies were on hand. Instructions Prepare the adjusting entries on January 31. Account titles are Accumulated Depreciation, Equipment, Depreciation Expense, Service Revenue, Accounts Receivable, Insurance Expense, Interest Expense, Interest Payable, Prepaid Insurance, Supplies, Supplies Expense, Utilities Expense, and Accounts Payable. Prepare adjusting entries. the accounts before adjustment (overstated or understated). Prepare adjusting entries from selected account data. E3.8 (LO 2, 3), AP The ledger of Howard Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared. Debit Credit $3,000 3,600 25,000 nent $ 8,400 20,000 12,400 60,000 ense 14,000 An analysis of the accounts shows the following. 1. The equipment depreciates $280 per month. 2. Half of the unearned rent revenue was earned during the quarter. 3. Interest of $400 should be accrued on the notes payable. 4. Supplies on hand total $850. 5. Insurance expires at the rate of $400 per month. Instructions Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are Depreciation Expense, Insurance Expense, Interest Payable, and Supplies Expense. Prepare adjusting entries. E3.9 (LO 2, 3), AP Al Medina, D.D.S., opened an incorporated det praeteranuary 1, 11:11 lil D. QAA F E3.8 (LO 2, 3), AP The ledger of Howard Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared. Debit Credit $3,000 3,600 25,000 aent $ 8,400 20,000 12,400 60,000 ense 14,000 An analysis of the accounts shows the following. 1. The equipment depreciates $280 per month. 2. Half of the unearned rent revenue was earned during the quarter. 3. Interest of $400 should be accrued on the notes payable. 4. Supplies on hand total $850. 5. Insurance expires at the rate of $400 per month. Instructions Prepare the adjusting entries at March 31, assuming that adiusting entries are made 3-1 - W I 25,000 nent $ 8,400 20,000 12,400 60,000 0 ense 14,000 An analysis of the accounts shows the following. 1. The equipment depreciates $280 per month. 2. Half of the unearned rent revenue was earned during the quarter. 3. Interest of $400 should be accrued on the notes payable. 4. Supplies on hand total $850. 5. Insurance expires at the rate of $400 per month. Instructions Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are Depreciation Expense, Insurance Expense, Interest Payable, and Supplies Expense. Prepare adjusting entries