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The ledger of Blossom Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared.
The ledger of Blossom Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared. Debit Credit Prepaid Insurance Supplies $6,696 5,580 Equipment 49,600 Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue $15,624 31,000 13.764 Rent Revenue 111.600 Interest Expense 0 Salaries and Wages Expense i 24,800 e An analysis of the accounts shows the following 1. The equipment depreciates $744 per month 2. Two-thirds of the unearned rent revenue was earned during the quarter. 1 The note payable is dated January 1 and bears 12% interest. 4 SUPPO An analysis of the accounts shows the following 1. The equipment depreciates $744 per month. 2. Two-thirds of the unearned rent revenue was earned during the quarter. 3. The note payable is dated January 1 and bears 12% interest. 4. Supplies on hand total $992 5. The insurance policy is a two-year policy dated January 1. (a) Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly (List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually) No. Date Account Titles 1. Mar. 31 2. Mar. 31 Debit Credit SUPPOR G Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. (List all debit entries before credit entries. If no entry is required, select "No Entry for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually) No. Date Account Titles 1. Mar. 31 2. Mar. 31 3. Mar. 31 4. Mar. 31, 5. Mar. 31 Debit Credit SUPPORT (b) The parts of this question must be completed in order. This part will be available when you complete the part above SUPPORT
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