On March 31, 2018, Easy Rental Agency Inc.'s trial balance included the following selected unadjusted account balances. The company's year end is December 31 and it adjusts its accounts quarterly.

DebitCreditPrepaid insurance$15,020Supplies2,820Equipment21,900Accumulated depreciationequipment$ 5,570Unearned revenue9,840Loan payable, due 2020

20,800Rent revenue30,400Salaries expense14,100

An analysis of the accounts shows the following:

1.The equipment, which was purchased on January 1, 2017, is estimated to have a useful life of four years. The company uses straight-line depreciation.2.One third of the unearned revenue related to rent is still unearned at the end of the quarter.

3.The loan payable has an interest rate of 6%. Interest is paid on the first day of each following month and was last paid March 1, 2018.

4.Supplies on hand total $850 at March 31.5.The one-year insurance policy was purchased for $15,020 on January 1.6.Income tax is estimated to be $2,200 for the quarter.

Prepare the quarterly adjusting entries required at March 31.(Record journal entries in the order presented in the problem. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275.)

Date

Account Titles and Explanation

Debit

Credit

Mar. 31

31

31

31

31

31