The ledger of Chan Rental Agency on March 31 of the current year includes the following three accounts before adjusting entries have been prepared. Insurance Expense (12-month policy purchased on 1/1) $ 2,700 Supplies Expense (supplies purchased 1/1) 2,100 Rent Revenue (12 months of rent was received in advance on 1/1) 6,975 Post the necessary 1st QRT ADJUSTING ENTRIES on March 31 directly into T accounts: 1. Insurance expires at the rate of $225 per month. Insurance Expense 2,700 Prepaid Insurance Reverse: yes or no 2. On March 31, Supplies on hand total $637. Supplies Expense 1/1 2,100Reverse: yes or no 2. On March 31, Supplies on hand total $637. Supplies Expense 1/1 2,100 Supplies Reverse: yes or no 3.On March 31, 3 months of revenue has been earned. Rental revenue 1/1 6.975 Unearned Rental Revenue Reverse: yes or no