Question 16 of 16 An analysis of the accounts shows the following. 1. The equipment depreciates $240 per month. 2. One-third of the unearned rent was recognized as revenue during the quarter. 3. Interest of $450 is accrued on the notes payable. 4. Supplies on hand total 5650 . 5. Insurance expires at the rate of $281 per month. An analysis of the accounts strows the following. 1 The equipenent depreciates 5240 per month. 2. One-third of the unearned rent was recognized as revenue during the quarter. 3. Interest of $450 is accrued on the notes payable. 4. Supplies on hand total $650. 5. Insurance expires at the rate of $281 per month. Prepare the adpusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are Depreciation Expense, Insurance Expenso, Interest Payable, and Supplies Expense, ICredit occount titles are automiticelly indented when amount is entered. Do not indent manuoliy. If no entry 's required, select 'No entry' for the accosunt tities ond enter o for the wmounts that ail debit entrles before credit entries)