The ledger of Skysong, Inc. on March 31, 2020, includes the following selected accounts before adjusting entries. Debit Credit Prepaid Insurance 2,500 Supplies 3,000 Equipment 31,500 Unearned Service Revenue 8,700 An analysis of the accounts shows the following. 1. Insurance expires at the rate of $300 per month. 2. Supplies on hand total $1,100. 3. The equipment depreciates $600 per month. 4. During March, services were performed for two-fifths of the unearned service revenue.

Question 3 The ledger of Skysong, Inc. on March 31, 2020, includes the following selected accounts before adjusting entries. Debit Credit Prepaid Insurance 2,500 Supplies 3,000 Equipment 31,500 Unearned Service Revenue 8,700 1. An analysis of the accounts shows the following. Insurance expires at the rate of $300 per month. 2. Supplies on hand total $1,100. 3. The equipment depreciates $500 per month. During March, services were performed for two-fifths of the unearned service revenue. Prepare the adjusting entries for the month of March. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Credit No. Debit 1. Mar. 31 2. Mar. 31 3. Mar. 31 4 Mar. 31 Question 4 The ledger of Martinez Company contains the following balances: Retained Earnings $28,800; Dividends $2,000; Service Revenue $50,000; Salaries and Wages Expense $25,000; and Supplies Expense 56,300. Prepare the closing entries at December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 (To close revenue account) Dec. 31 (To close expense accounts) Dec. 31 (To close net income (loss)) Dec. 31 (To close dividends)