Question in Financial and Managerial Accounting.

Qsn. 2: Lokman Engineering house started its business on 1st January 2021. After the 1st quarter operation it has following unadjusted trial balance as on 31 March 2021. Lokman Engineering House Trial Balance 31 March 2021 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 Interest Expense -0- Salaries and Wages Expense 14.000 Additional data: (a) Prepaid insurance is a two years policy starting from February 1, 2021 (b) One-third of the unearned rent revenue was earned during the quarter. (c) Interest of $500 is accrued on the notes payable. (d) One fourth of the supplies were used during the period (e) Salaries accrued and unpaid $4,100 as on March 31, 2021 Required: Prepare the necessary adjusting journal entries [3]