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The ledger of Monty Corp.on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Debit Credit Supplies

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The ledger of Monty Corp.on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Debit Credit Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $3,760 3,960 25,500 $7,650 20,000 11,600 61,200 0 14,000 An analysis of the accounts shows the following. 1. The equipment depreciates $ 400 per month 2. Half of the unearned rent revenue was earned during the quarter. 3. Interest of $ 340 is accrued on the notes payable. 4. Supplies on hand total $ 870 5. Insurance expires at the rate of $ 440 per month 4. Suppiies on nana total B/u. 5. Insurance expires at the rate of $440 per month. Prepare the adjusting entries at March 31,assuming that adjusting entries are made quarterly. (If no entry is required, select "No Entry for the account titles and enter O for the amounts. 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 2. Mar. 31 3. Mar. 31 4. Mar. 31 5. Mar. 31

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