View Policies Current Attempt in Progress The ledger of Monty Corp. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense Debit Credit $4,500 5,400 37,500 $12,600 30,000 18,600 90,000 0 21,000 An analysis of the accounts shows the following. Half of the unearned rent revenue was earned during the quarter. Interest of $600 is accrued on the notes payable. 1. The equipment depreciates $420 per month. 2 3. 4. Supplies on hand total $1,275, 5. Insurance expires at the rate of $600 per month.