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The ledger of Metlock, Inc, on March 31 of the current year includes the selected accounts, shown below, before quarterly adjusting entries have been prepared.

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The ledger of Metlock, Inc, on March 31 of the current year includes the selected accounts, shown below, before quarterly adjusting entries have been prepared. An analysis of the accounts shows the following. 1. The equipment depreciates $500 per month. 1. The equipment depreciates $500 per month. 2. One-third of the unearned rent revenue was earned during the quarter. 3. Interest totaling $575 is accrued on the notes payable for the quarter: 4. Supplies on hand total $930. 5. Insurance expires at the rate of $500 per month. 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 the amount is entered, Do not indent manually. No. Date Account Titles Debit Credit 1. Mar. 31 2. Mar, 31 3. Mar. 31 4. Mar. 31 5. Mar. 31

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