The ledger of Kingbird Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared. Prepaid Insurance Supplies Equipment Accumulated Depreciation Equipment Notes Payable Unearned Rent Revenue Rent Revenue Debit Credit $3.576 2,543 22.630 $8,736 20,000 5,040 63,370 -0- 12,800 Interest Expense Salaries and Wages Expense An analysis of the accounts shows the following 1. The equipment depreciates $260 per month. 2 One-third of the unearned rent was recognized as revenue during the quarter. 3. Interest of $500 is accrued on the notes payable. 4. Supplies on hand total $628 5 Insurance expires at the rate of $298 per month Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly Additional accounts are Depreciation tomatically indented when amount is cides ore Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are Depreciation Expense, Insurance Expense, Interest Payable, and Supplies Expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts. List all debit entrie before credit entries) No. Account Titles and Explanation 1. Depreciation Expense Accumulated Depreciation-Equipment 2. Unearned Rent Revenue Rent Revenue 3 Interest Expense Debit 780 2520 500 Interest Payable 2948 A. Supplies Expense Supplies Insurance Expense Prepaid Insurance Credit 780 2520 500 2948