On March 31, 2024, Swifty 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. Prepaid insurance Supplies Equipment Accumulated depreciation-equipment Deferred revenue Bank loan payable, due 2026 Rent income Salaries expense 1. Debit 2 $16,400 4,800 23,040 An analysis of the accounts shows the following: 16,000 Credit $7,400 11,010 22,000 32,000 The equipment, which was purchased on January 1, 2023, is estimated to have a useful life of four years. The company uses straight-line depreciation. One-third of the deferred revenue related to rent is still ungarned at the end of the

On March 31,2024, Swifty Rental Agency Incis trial balance included the following selected unadjusted account balances. The company's year end is December 31 and it adjusts its accounts quarterfy. An analysis of the accounts shows the following: 1. The equipment, which was purchased on January 1,2023 , is estimated to have a useful life of four years. The company uses straight-line depreciation. No. Date Account Titles and Explanation 1. Mar: 2. Mar. 31 3. Mar. 4. Mar. 5. Man: Debit Credit