The ledger of Sunland Ltd. on March 31 of the current year includes the following selected accounts before quarterly adjusting entries have been prepared: An analysis of the accounts shows the following: 1. The equipment depreciation is $400 per month. 2. One half of the unearned rent was earned during the quarter. 3. Interest of $900 has accrued on the notes payable. 4. Supplies on hand total $935. 5. Insurance expires at the rate of $295 per month. 6. The FV-OCl Investments were purchased for $159,000 on March 1. No imvestments were purchased or sold after that date. The fair value on March 31 was $184,000. Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are Unrealized Gain or Loss-OCl; Depreciation Expense; Insurance Expense; Interest Payable; and Supplies Expense. (List all debit entries before credit entries. Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) - Your answer is incorrect. If the notes payable have been outstanding since January 1 of the current year, what is the annual interest rate on the notes payable? (Round answer to 2 decimal places, e.g. 15.25\%.) Annual interest rate