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The ledger of Sunland Rental Agency on March 31 of the current year includes the following selected accounts, before adjusting entries have been prepared.
The ledger of Sunland Rental Agency on March 31 of the current year includes the following selected accounts, before adjusting entries have been prepared. Debit Credit Prepaid Insurance $10,800 Supplies Equipment 3,200 25.000 Accumulated Depreciation-Equipment $8,800 Notes Payable Unearned Rent Revenue Rent Revenue 22,000 9,300 62,000 Interest Expense 0 Salaries and Wages Expense 18.000 An analysis of the accounts shows the following. 1. The equipment depreciates $400 per month. 2. One-third of the unearned rent revenue was earned during the quarter. 3. Interest of $550 should be accrued on the notes payable. 4. Supplies on hand total $760. 5. Insurance expires at the rate of $900 per month. Question 1 of 6 No. Date Account Titles and Explanation Debit Credit 1. Mar. 31 2. Mar. 31 - Mar. 31 5. Mar. 31 Mar. 31
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