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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 3 altad
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 3 altad unadu Debit Credit Prepaid insurance $15,280 Supplies 2,860 Equipment 22,300 Accumulated depreciation-equi Unearned revenue Loan payable, due 2020 Rent revenue Salaries expense 4,700 No 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 uneared 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 $920 at March 31. 5. The one-year Insurance policy was purchased for $15,280 on January 1. 6. Income tax is estimated to be $2,400 for the quarter. storbe adicting ontroererad at March 31 (Recordiala
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