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

Debit Credit

Prepaid Insurance $3,528

Supplies 3,080

Equipment 24,860

Accumulated Depreciation-Equipment $8,542

Notes Payable 20,040

Unearned Rent Revenue 8,160

Rent Revenue 54,960

Interest Expense -0-

Salaries and Wages Expense 13,980

An analysis of the accounts shows the following.

1.The equipment depreciates $236per month.

2.One-third of the unearned rent was recognized as revenue during the quarter.

3.Interest of $460is accrued on the notes payable.

4.Supplies on hand total $645.

5.Insurance expires at the rate of $294per month.

Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are Depreciation Expense, Insurance Expense, Interest Payable, and Supplies Expenses.(Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)

No.

Account Titles and Explanation

Debit

Credit

1.

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2.

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3.

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4.

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5.

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