Kimmel, Accounting, 7e CALCULATO Exercise 4-09 The ledger of Sheridan Company on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Debit Credit Supplies $9,000 Prepaid Insurance 10,800 Equipment 75,000 Accumulated Depreciation-Equipment $25,200 Notes Payable 60,000 Unearned Rent Revenue 37,200 Rent Revenue 180,000 Interest Expense Salaries and Wages Expense 42,000 O An analysis of the accounts shows the following. 1. 2. 3. 4. 5. The equipment depreciates $840 per month. Half of the unearned rent revenue was earned during the quarter. Interest of $1,200 is accrued on the notes payable. Supplies on hand total $2,550. Insurance expires at the rate of $1,200 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 acc 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 Depreciation Expense Accumulated Depreciation Equipment 2. Mar. 31 Unearned Rent Revenue Rent Revenue to search heyrLUS Kimmel, Accounting, 7e Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. (If no entry is required, select "No Entry account files are automatically indented when the amount is entered. Do not indent mantally.) No. Date Account Titles and explanation 1. Mar 31 Depreciation Expense Accumulated Depreciation Equipment SIGNMENT RESOURCES 4 Homework Do It Review 4-02 Do It Review 4-03 Do It Review 4-01 EXERCISO 4.0 Exercise 1.10 Exercise 4-11 Exercise 4-13 Exercise 4-14 Practice Question 12 Practice Question 24 Practice Question 23 Practice Question 25 Practice Question 28 Practice Question 49 2. Mar. 31 Unearned Rent Revenue Rent Revenue 3. Mar. 31 Interest Expense Interest Payable 4. Mar. 31 Supplies Expense lew Score Yew Results by Study ctive Supplies 5. Mar. 31 Insurance Expense Prepaid Insurance Click if you would like to Show Work for this questioni Open Show Work SHOW LIST OF ACCOUNTS LINK TO VIDEO LINK TO TEXT TO Type here to search