The ledger of Concord Corporation on March 31 of the current year includes the following selected accounts before ac have been prepared. Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense Debit Credit $2,580 3,096 21,500 $7.224 17,200 10,664 51.600 0 12,040 An analysis of the accounts shows the following. 1 The equipment depreciates $242 per month 2 Half of the unearned rent revenue was earned during the quarter. 3. Interest of $344 should be accrued on the notes payable. Question 2 of 6 < > Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $7,224 17,200 10,664 51,600 0 12,040 An analysis of the accounts shows the following. 1. The equipment depreciates $242 per month. 2. Half of the unearned rent revenue was earned during the quarter. 3. Interest of $344 should be accrued on the notes payable. 4. Supplies on hand total $731. 5. Insurance expires at the rate of $344 per month. -18 Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit 1. Mar. 31