The ledger of Ehrlich Rental Agency on March $31$ of the current year includes thefollowing selected accounts before adjusting entries have been prepared. Debit Credit

Prepaid Insurance $ $4,200$

Supplies $3,400$

Equipment $30,000$

Accumulated DepreciationEquipment $$10,500$

Notes Payable $25,000$

Unearned Rent Revenue $10,800$

Rent Revenue $60,000$

Interest Expense $0$

Salaries and Wages Expense $14,000$

An analysis of the accounts shows the following.

$1.$ The equipment depreciates $$300$ per month.

$2.$ Supplies on hand total $$1,300.$

$3.$ The company paid $$4,200$ on January $1$ for a $2-$year insurance policy.

Instructions

Prepare the adjusting entries at March $31,$ assuming that adjusting entries are made quarterly.

Additional accounts are: Depreciation Expense, Insurance Expense, and Supplies Expense.