Inner Ski Resort is owned by Kathy Howell and provides training to novice ski enthusiasts. At...

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Inner Ski Resort is owned by Kathy Howell and provides training to novice ski enthusiasts. At the end of March 2021, the company had the following adjustments. Mar 31 Interest on the bank loan is set at 8%. One month of interest has accrued. Mar 31 The balance of prepaid rent is for the remaining 10 months of the lease. One month of rent has been used. Mar 31 The equipment was purchased three months prior at the beginning of the month and will have a useful life of 7 years, after which it will have residual value of $820. Depreciation is recorded every month. Record depreciation for March. Mar 31 Inner Ski Resort provided services that accounted for $540 of the amount that was previously unearned. Inner Ski Resort is owned by Kathy Howell and provides training to novice ski enthusiasts. At the end of March 2021, the company had the following adjustments. Mar 31 Interest on the bank loan is set at 8%. One month of interest has accrued. Mar 31 The balance of prepaid rent is for the remaining 10 months of the lease. One month of rent has been used. Mar 31 The equipment was purchased three months prior at the beginning of the month and will have a useful life of 7 years, after which it will have residual value of $820. Depreciation is recorded every month. Record depreciation for March. Mar 31 Inner Ski Resort provided services that accounted for $540 of the amount that was previously unearned.