Exercise 4-9

The ledger of Wildhorse Co. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared.

		Debit		Credit
Supplies		$3,410
Prepaid Insurance		3,690
Equipment		28,100
Accumulated DepreciationEquipment				$8,430
Notes Payable				21,500
Unearned Rent Revenue				11,500
Rent Revenue				56,300
Interest Expense		0
Salaries and Wages Expense		14,500

An analysis of the accounts shows the following.

1.		The equipment depreciates $400 per month.
2.		Half of the unearned rent revenue was earned during the quarter.
3.		Interest of $470 is accrued on the notes payable.
4.		Supplies on hand total $810.
5.		Insurance expires at the rate of $410 per month.

Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

No.	Date	Account Titles and Explanation	Debit	Credit
1.	Mar. 31
2.	Mar. 31
3.	Mar. 31
4.	Mar. 31
5.	Mar. 31