Business, 12.02.2020 01:59 summerjoiner

The ledger of Skysong Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared.
Debit
Credit
Prepaid Insurance $4,020
Supplies 2,620
Equipment 28,270
Accumulated Depreciation-Equipment $8,580
Notes Payable 24,980
Unearned Rent Revenue 7,800
Rent Revenue 60,880
Interest Expense â€“0â€“
Salaries and Wages Expense 22,050
An analysis of the accounts shows the following.
1. The equipment depreciates $290 per month.
2. One-third of the unearned rent was earned during the quarter.
3. Interest of $680 is accrued on the notes payable.
4. Supplies on hand total $850.
5. Insurance expires at the rate of $370 per month.
Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly.

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The ledger of Skysong Rental Agency on March 31 of the current year includes the following selected...

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