LUZON COMPANY Trial Balance For the month Ended March, 2020 Credit Debit $ 40,000 20,000 5,000 5,100 2,400 60,000 Cash Accounts Receivable Supplies Prepaid rent Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Notes Payable Share Capital-Ordinary Dividends Service Revenue Salaries and Wages Expense Utilities Expense Rent Expense 25,000 10,000 20,000 54,000 1,500 55,000 15,000 5,000 10,000 164,000 164,000 Analysis reveals the following additional data: 1. A physical count of office supplies revealed $1,000 on hand on March 31. 2. A one-year insurance policy was purchased on March 1 for $2,400. 3. A three months' rent was paid in advance on March 1 for $5,100. 4. Office equipment is depreciated for $3,000 per year. 5. The unearned service revenue was earned on March 31. 6. Accrued salaries on March 31 are $ 6,000. Required: a. Prepare the adjusting entries on March 31, 2020. (60 points) b. For each of them indicate which type belongs to (prepaid expenses, unearned revenues, accrued expenses or accrued revenues) (20 points) . GENERAL JOURNAL DATE ACCOUNT TITLES DEBIT CREDIT March 31 March 31 March 31 March 31 March 31 March 31