The ledger of Skysong, Inc. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Credit Debit $2.700 3,240 22.500 $7,560 Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense 18.000 11.160 54.000 0 12.600 1. An analysis of the accounts shows the following. The equipment depreciates $252 per month. Half of the unearned rent revenue was earned during the quarter. Interest of $360 is accrued on the notes payable. Supplies on hand total $765. Insurance expires at the rate of $360 per month. 2. 3. 4. 5. 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 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) 3. 4 Interest of $360 is accrued on the notes payable. Supplies on hand total $765. Insurance expires at the rate of $360 per month. 5. 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 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually) Credit Debit No. Account Titles and Explanation Date Mar. 31 1. 2. Mar. 31 3. Mar 31 4. Mar. 31 5. Mar. 31