Business, 21.02.2020 23:05 paul1963

Prepaid Insurance $ 3,600 Supplies 3,500 Equipment 18,750 Accumulated Depreciation—Equipment $ 8,400 Notes Payable 21,000 Unearned Rent Revenue 11,000 Rent Revenue 62,000 Interest Expense 0 Salaries and Wages Expense 20,000 An analysis of the accounts shows the following. 1. The equipment depreciates $300 per month. 2. One-third of the unearned rent revenue was earned during the quarter. 3. Interest totaling $525 is accrued on the notes payable for the quarter. 4. Supplies on hand total $860. 5. Insurance expires at the rate of $200 per month.

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Prepaid Insurance $ 3,600 Supplies 3,500 Equipment 18,750 Accumulated Depreciation—Equipment $ 8,400...

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