The ledger of Wildhorse Co. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Debit Credit Supplies $6,300 Prepaid Insurance 7,560 Equipment 52,500 Accumulated Depreciation-Equipment $17,640 Notes Payable 42,000 Unearned Rent Revenue 26,040 Rent Revenue 126,000 Interest Expense Salaries and Wages Expense 29,400 An analysis of the accounts shows the following. 1. The equipment depreciates $588 per month. 2. Half of the unearned rent revenue was earned during the quarter. 3. Interest of $840 is accrued on the notes payable. 4. Supplies on hand total $1,785. 5. Insurance expires at the rate of $840 per month.

The ledger of Wildhorse Co. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Credit Debit $6,300 7.560 52.500 Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $17.640 42,000 26,040 126,000 0 29.400 An analysis of the accounts shows the following, 1 2 3. The equipment depreciates $588 per month. Half of the unearned rent revenue was earned during the quarter Interest of $840 is accrued on the notes payable: Supplies on hand total $1,785, Insurance expires at the rate of $840 per month 4. 5. Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. (If no entry is required, select "No Entry* for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Credit No. Debit 1 Mar 31 N Mar. 31 3 Mar. 31 4 Mar 31 Mar 5. 31