ps.mhhe... Library Midterms My hor Question 3 of 5 -/1 The ledger of Carla Vista Rental Agency on March 31 of the current year includes the selected accounts, shown below. before adjusting entries have been prepared. Credit Debit $ 12.600 2,700 31,250 Prepaid Insurance Supplies Equipment Accumulated Depreciation Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $8,000 21,000 9.600 61.000 0 13,000 An analysis of the accounts shows the following 1. 2. 3 4 5. The equipment depreciates $500 per month One-third of the unearned rent revenue was earned during the quarter Interest of $525 is accrued on the notes payable. Supplies on hand total $590, Insurance expires at the rate of $700 per month ACC 622-010643 CL 7e-4b8e3cdffe 188/question/2 http://mps.mhhe.com Library Midterms MyS Newt homecommunity Question 3 of 5 -/1 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. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Mar. 31 Debit Credit 1. 2. Mar. 31 3. Mar. 31 Mar. 31 5. Mar. 31