Problem 3-2: The ledger of Venessa Rental Agencies on March 31 of the current year includes the selected accounts shown below, before adjusting entries have been prepared. Credit Debit $3,600 2.800 25,000 Prepaid Insurance Supplies Equipment Accumulated depreciation-equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries & Wages Expense $8,400 20,000 9,900 60,000 ..0.. 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 recognized during the quarter. 3. Interest of $500 is accrued on the notes payable. 4. Supplies on hand total $650. 5. Insurance expires at the rate of $200 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. Debit Credit Date Account title