Kretz corporation prepares monthly financial statements and therefore adjusts its account at the end of every month. The following information is available for March 2 1, 2014, Kretz Corporation takes out a 90-day, 8%, s15,000 note on March 1, 2014, with interest and principal to be paid at maturity The asset account supplies on Hand has a balance of s1, 280 on March 1, 2014. During March, Kretz adds $750 to the account for purchases during the period A count of the supplies on hand at the end of March indicates a balance of $1, 370 The company purchased office equipment last year for $62, 600. The equipment has an esti mated useful life of six years and an estimated salvage value of $5,000 The company's plant operates seven days per week with a daily payroll of $950. Wage earners are paid every Sunday. The last day of the month is Saturday, March 31 The company rented an idle warehouse to a neighboring business on February 1, 2014, at a rate of $2, 500 per month. On this date, Kretz Corporation credited Rent Collected in Advance for six months' rent received in advance. On March 1, 2014, Kretz Corporation credited a account, Customer Deposits, for s4, 800. liability earn This sum represents an amount that a customer paid in advance and that Kretz will evenly over a four-month period Based on its income for the month, Kretz Corporation estimates that federal income taxes for March amount to $3, 900. For each of the preceding situations, prepare in general journal form the appropriate adjusting entry to be recorded on March 31, 2014