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The ledger of Waterway Rental Agency on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. An

image text in transcribedimage text in transcribed The ledger of Waterway Rental Agency on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. An analysis of the accounts shows the following. 1. The equipment depreciates $448 per month. 2. Half of the unearned rent revenue was earned during the quarter. 3. Interest of $640 is accrued on the notes payable. 4. Supplies on hand total $1,360. 5. Insurance expires at the rate of $640 per month. No. Date Account Titles and Explanation Debit Credit 1. 31 2. 31 3. 31 4. 31 5. Mar

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