The ledger of Villa Rental Agency on March 31 of the current year includes the selected accounts shown below, before adjusting entries have been prepared Debit Credit 3,800 Prepaid Insurance Supplies Equipment 3,400 19,700 Accumulated Depreciation-Equipment 8,800 21,000 Notes Payable Unearned Rent Revenue 10,800 Rent Revenue 58,000 0 Interest Expense Salaries and Wages Expense 12.000 An analysis of the accounts shows the following 1 2 The equipment depreciates 400 per month One-third of the unearned rent revenue was recognized as revenue during the quarter. Interest of 340 is accrued on the notes payable. 3. 4. Supplies on hand total 750 Insurance expires at the rate of 300 per month 5. Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. (Credit account titles are automatically Indented when the amount is entered. Do not indent manually) No. Date Account Titles and Explanation Debit Credit 1 Mar 31 2. Mar. 31 3. Mar 31 4 Mar: 31 5. Mar. 31 eTextbook and Media