A partial tabular summary for Metlock, Inc. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared Assets Llabilities Prepaid Supplies + Insurance Equip 3,640 2.700 28,900 Acc Depr. Equip -8,670 Stockholders'Equity Reatined Earnings Com + Stock + Rev. - Exp. C Int. Pay. + 0 Unearn Rent Rev. 11.250 Notes Pay 18.100 + Bal An analysis of the accounts shows the following 1 2 3 4 5 The equipment depreciates $400 per month Half of the une amedrent revenue was earned during the quarter Interest of $320 Is accrued on the notes payable, Supplies on hand total $880 Insurance expires at the rate of 5300 per month Prepare a tabular summary to record adjustments at March 31, assuming that adjustments are made quarterly. (if a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) 2 3. 4, 5. Half of the unearned rent revenue was earned during the quarter. Interest of $320 is accrued on the notes payable. Supplies on hand total $880. Insurance expires at the rate of $300 per month, Prepare a tabular summary to record adjustments at March 31, assuming that adjustments are made quarterly. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Acc Depr.- Equip. Supplies Equip Prepaid Insurance 2,700 Bal. 3,640 28,900 -8,670 1 1200 2. 3 2760 5. 00