Prepaid Insurance Supplies Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense Debit $ 7,200 Credit 2,700 18,750 $ 8,400 20,000 9,900 60,000 14,000 An analysis of the accounts shows the following. 1. The equipment depreciates $300 per month. 2. One-third of the unearned rent revenue was earned during the quarter. 3. Interest of $500 is accrued on the notes payable 4. Supplies on hand total $53o. Insurance expires at the rate of $400 per month (Credit account titles are Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly Debit Date Account Titles and Explanation No. to search