The ledger of Ahmed Rental Agency on March $31$ of the current year includes the following selected accounts,

before adjusting entries have been prepared.

An analysis of the accounts shows the following.

The equipment depreciates $$400$ per month.

One$-$third of the unearned rent revenue was eamed during the quarter.

Interest of $$500$ should be accrued on the notes payable.

Suppilies on hand total $$750.$

Insurance expires at the rate of $$300$ per month.

Required: Prepare the adjusting entries on March $31,$ assuming that adjusting entries are made quarterly. $[5$ Marks, $1$ Each$]$The double$-$entry system requires that each transaction must be recorded Select one: A$.$ as an asset and as a liability. B$.$ in at least two different accounts. C$.$ in a journal and in a ledger. D$.$ twice.