The ledger of Sheffield Rental Agency on March $31$ of the current year includes the selected accounts below before adjusting entries have been prepared.

Debit

Credit

Supplies

$$8\mathrm{.}400$

Prepaid Insurance

$10,080$

Equipment

$70,000$

Accumulated Depreciation$-$Equipment

$$23,520$

Notes Payable

$56,000$

Unearned Rent Revenue

$34,720$

Rent Revenue

$168\mathrm{.}000$

Interest Expense

Salaries and Wages Expense

$39\mathrm{.}200$

An analysis of the accounts shows the following.

$$The equipment depreciates $$784$ per month.

$$ Half of the unearned rent revenue was earned during the quarter.$.$ Interest of $$1,120$ is accrued on the notes payable.$$

Supplies on hand total $$2,380.$

$5.$ Insurance expires at the rate of $$1,120$ per month.

Prepare the adjusting entries at March $31,$ assuming that adjusting entries are made quarterly. $($List all debit entries before credit entries.

If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented whe

E$]$ SUPPORT

the amount is entered. Do not indent manually.$)$