Question 1 of 2 -/5 The ledger of Villa Rental Agency on March 31 of the current year includes the selected accounts, shown below, before adjusting entries have been prepared. Credit Debit 3,200 2,700 23,800 Prepaid Insurance Supplies Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense 8.600 24,000 10.200 61.000 0 13,000 An analysis of the accounts shows the following 1 2 3 The equipment depreciates 400 per month One-third of the unearned rent revenue was recognized as revenue during the quarter. Interest of 440 is accrued on the notes payable Question 1 of 2 - 15 1. An analysis of the accounts shows the following. The equipment depreciates 400 per month One-third of the unearned rent revenue was recognized as revenue during the quarter. 3. Interest of 440 is accrued on the notes payable. 4. Supplies on hand total 850, Insurance expires at the rate of 500 per month. 2. Prepare the adjusting entries at March 31. assuming that adjusting entries are made quarterly. (Credit account titles are automatically Indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Credit Mar 31 Debit 1. 2 Mar. 31 apter 3 Homework Question 1 of 2 > - 75 III Mar. 2 31 3. Mar 31 Mar 31 5. Mar 31 e Textbook and Media List of Accounts