Please Show work and explanations!

Thank You!

The ledger of Duggan Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared. An analysis of the accounts shows the following. 1. The equipment depreciates $250 per month. 2. One-third of the unearned rent was recognized as revenue during the quarter. 3. Interest of $500 is accrued on the notes payable. 4. Supplies on hand total $850. 5. Insurance expires at the rate of $300 per month. Instructions Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are Depreciation Expense, Insurance Expense, Interest Payable, and Supplies Expense. (Omit explanations.) Statement of Retained Earnings For the Year Ended December 31, 2025 \begin{tabular}{|c|l|l|} \hline \multicolumn{3}{|c|}{ Mason Advertising } \\ \hline Balance Sheet \\ \hline December 31, 2025 \\ \hline Assets & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|l|} \hline \multicolumn{5}{|c|}{ Liabilities and Stockholders' Equity } \\ \hline \end{tabular} c. 1. Annual interest rate 2. Salaries and wages payable, 12/31/24