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

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The ledger of Sheridan Rental Agency on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Af analysis of the accounts shows the following: 1. The equipment depreciates $616 per month 2. Half of the unearned rent revenue was earned during the quarter 3 Interest of $880 is accrued on the notes payable 4. Suppliesonhand total \$1,870. 5. Insurance explies at the rate of $880 per manth Prepare the adjusting entries at March 31. assuming that adjusting entries are made quarterly (List efl debit mtries before credit entries the amount is mentered. Do not indent manually]

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