9 ) 45% D Sat 2 May 2:56 PM For type a command Search Clos Open in Desktop App A A BA . Conversation a - ! .. D Chapter 4 The Accounting Cycle: Accruals and Deferrals On February 1, Watson Storage agreed to rent Hillbourne Manufacturing warehouse space for $175 per month. Hillboume Manufacturing paid the first three months' rent in advance. a. Prepare the necessary adjusting entry for Hillboume Manufacturing on February 28, assuming it recorded the expenditure on February 1 as Prepaid Rent. b. Prepare the necessary adjusting entry for Watson Storage on February 28, assuming it recorded Hillboume Manufacturing's payment as Uneamed Rent Revenue On March 1, Dillmore Corporation had office supplies on hand of $900. During the month. Dill more purchased additional supplies costing $600. Approximately $400 of unused office supplies remain on hand at the end of the month. Prepare the necessary adjusting entry on March 31 to account for office supplies. Help improve Office Notes 14