X Financial Accounting (Summer 2021) sec. 01 Question 4 Not yet answered Marked out of 10.00 P Flag question The ledger of Sarah Company, on March 31, 2020, includes these selected accounts before adjusting entries are prepared. Debit Credit Prepaid Insurance $ 4,000 Supplies $3,800 Equipment $26,000 Accumulated Depreciation-Equipment $4,000 Unearned Service Revenue $10,000 An analysis of the accounts shows the following: 1. Insurance expires at the rate of $200 per month. 2. Supplies on hand total $1000. 3. The equipment depreciates $400 a month. 4. During March, services were performed for $3,000 of the unearned service revenue reported. 5. At March 31, the company owed its employees $1100 in salaries and wages Required Prepare the adjusting entries for the month of March. Answer 1 B 1 SS Date Explanation Dr. Cr. 1. 2. 3 4 Hisense