Question 3 The ledger of Perez Renal Agency on March 31 of the current year includes the selected accounts, shown below, before adjusting entries have been prepared. Debit Credit Prepaid Insurance $3,600 Supplies 2,800 Equipment 25,000 Accumulated Depreciation - Equipment $8,400 Notes Payable 20,000 Unearned Rent Revenue 10,200 Rent Revenue 60,000 Salaries and Wages Expense 14,000 An analysis of the accounts shows the following. 1. The equipment depreciates $400 per month. 2. One-third of the unearned rent revenue was earned during the quarter. 3. Interest of $500 is accrued on the notes payable. 4. Supplies on hand total $900. 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