Name: Exercise: E3-5, Adjusting Entries Course: Date: The ledger of Chopin Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared. Debit Credit Prepaid Insurance $3,600 Supplies 2,800 Equipment 25,000 Accumulated Depreciation - Equipment $8,400 Notes Payable 20,000 Unearned Rent Revenue 6,300 Rent Revenue 60,000 Interest Expense 0 Wage Expense $14,000 Totals: $45,400 $94,700 An analysis of the accounts shows the following: 1. The equipment depreciation per month is: $250 2. One-third of the unearned rent was earned during the quarter. 3. Interest accrued for the month on notes payable is: $500 4. Supplies on hand total: $650 5. The monthly insurance expiration rate is: $300 "Instructions: Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are: (Omit explanations.)" Depreciation Expense Interest Payable Insurance Expense Supplies Expense 1 Account Title Amount Account Title Amount Text / Memo Line 2 Account Title Amount Account Title Amount Text / Memo Line 3 Account Title Amount Account Title Amount Text / Memo Line 4 Account Title Amount Account Title Amount Text / Memo Line 5 Account Title Amount Account Title Amount Text / Memo Line