Exercise 3-07 (Video) The ledger of Metlock, Inc. on March 31 of the current year includes the selected accounts, shown below, before quarterly adjusting entries have been prepared. Credit Debit $9,000 2,900 31,250 Prepaid Insurance Supplies Equipment Accumulated Depreciation-Equipment Notes Payable Uneamed Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $ 8,000 23,000 11,400 60.000 0 19,000 An analysis of the accounts shows the following IV 1 2. 3. The equipment depreciates $500 per month One-third of the unearned rent revenue was earned during the quarter. Interest totaling 5575 is accrued on the notes payable for the quarter Supplies on hand total 5930, Insurance expires at the rate of $500 per month 4 5. Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are Depreciation Expense, Insurance Expense, Intes and Supplies Expense. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date CALCULATOR FULL SCREEN PENTER VERSION BACK Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are Depreciation Expense, Insurance Expense, Interest Payab and Supplies Expense. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) to. Date Account Titles Debit Credit 1. Mar. 31 2. Mar. 31 3. Mar. 31 4. Mar 31 Hy 5. Mar. 3 Click if you would like to show Work for this question OF ACTORS ere to search