Q3.(A). Prepare adjusting entries for deferrals. (LO 5) DO TI 3.2 The ledger of Lafayette, Inc. on March 31, 2014, includes the following selected accounts before adjusting entries. Debit Credit Prepaid Insurance 2,400 Supplies 2,500 Equipment 30,000 Unearned Service Revenue 9,000 An analysis of the accounts shows the following. 1. Insurance expires at the rate of CHF300 per month. 2. Supplies on hand total CHF1,400. 3. The equipment depreciates CHF200 per month. 4. 2/5 of the unearned service revenue was recognized in March. Prepare the adjusting entries for the month of March