E4-9 The selected accounts below before adjusting entries eadjustment ledger of Howard Rental Agency on March 31 of the current year includes the have been prepared Debit Credit Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense 3,000 3,600 25,000 $ 8,400 20,000 12,400 60,000 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 is 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 quar- terly. Additional accounts are Depreciation Expense, Insurance Expense, Interest Payable, and Supplies Expense