Exercise 3-05 The ledger of Waterway Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared. Prepaid Insurance Debit $3,528 Credit Supplies 3,080 Equipment 24,860 Accumulated Depreciation-Equipment $8,542 Notes Payable 20,040 Unearned Rent Revenue 8,160 Rent Revenue 54,960 Interest Expense Salaries and Wages Expense -0- 13,980 An analysis of the accounts shows the following. 1. The equipment depreciates $236 per month. 2. One-third of the unearned rent was recognized as revenue during the quarter. 3. Interest of $460 is accrued on the notes payable. 4. Supplies on hand total $645. 5. Insurance expires at the rate of $294 per month. 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 Expenses. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)