The ledger of Herrera, Inc. on March 31, 2019, includes the following selected accounts before adjusting entries.
________________________________Debit________Credit
Prepaid Insurance.........................$ 2,400
Supplies.......................................2,500
Equipment..................................30,000
Unearned Service Revenue...................................$9,000
An analysis of the accounts shows the following.
1. Insurance expires at the rate of $300 per month.
2. Supplies on hand total $1,100.
3. The equipment depreciates $500 per month.
4. During March, services were performed for two-fifths of the unearned service revenue. Prepare the adjusting entries for the month of March.