Prepare the adjusting entries for the month of March The ledger of Pina Colada Corp. on March

Prepare the adjusting entries for the month of March

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The ledger of Pina Colada Corp. on March 31, 2022, includes the following selected accounts before adjusting entries. Debit Credit Prepaid Insurance $2,544 Supplies 2,650 Equipment 1,800 Unearned Service Revenue $9,540 An analysis of the accounts shows the following. 1. Insurance expires at the rate of $318 per month. 2. Supplies on hand total $1,166. 3. The equipment depreciates at $530 per month. 4. During March, services were performed for two-fifths of the unearned service revenue. The ledger of Pina Colada Corp. on March 31, 2022, includes the following selected accounts before adjusting entries. Debit Credit Prepaid Insurance $2,544 Supplies 2,650 Equipment 1,800 Unearned Service Revenue $9,540 An analysis of the accounts shows the following. 1. Insurance expires at the rate of $318 per month. 2. Supplies on hand total $1,166. 3. The equipment depreciates at $530 per month. 4. During March, services were performed for two-fifths of the unearned service revenue.