James Co. Trial Balance Adjustments Adjusted Balances Debits Credits Debits Credits Debit Credit Cash 55,200 3,600 3,000 25,000 Prepaid Insurance Supplies Equipment Accumulated Depreciation- Equipment 8,400 Interest Payable Notes Payable 20,000 12,400 60,000 Unearned Rent Revenue Rent Revenue Salaries and Wages Expense 14,000 Depreciation Expense Supplies Expense interest Expense Insurance Expense An analysis of the accounts shows the following: 1. The equipment depreciated at $280 per month 2. Half of the unearned rent revenue was earned during the quarter. 3. Interest of $400 is accrued on the notes payable. .Supplies on hand total $850 5.Insurance expires at the rate of $400 per month. Prepare the adjusting journal entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are Depreciation Expense, Insurance Expense, Interest Payable and Supplies Expense