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help is apprecated! The ledger of Sheridan Rental Agency on March 31 of the current year includes the selected accounts below before adjusting entries have
help is apprecated!
The ledger of Sheridan Rental Agency on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. An analysis of the accounts shows the following. 1. The equipment depreciates $616 per month. 2. Half of the unearned rent revenue was earned during the quarter. 3. Interest of $880 is accrued on the notes payable. 4. Supplies on hand total $1,87 5. Insurance expires at the rate of $880 per month. Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. (List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit occount titles are automatically indented when the amount is entered. Do not indent manually.) Step by Step Solution
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