The ledger of Windsor, Inc. on March 31 of the current year includes the following selected...

  
 

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The ledger of Windsor, Inc. on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared. Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense. Debit $2,760 3,312 23,000 0 12,880 Credit $7,728 18,400 11.408 55,200 An analysis of the accounts shows the following. 1. 2. 3. 4. 5. The equipment depreciates $260 per month. Half of the unearned rent revenue was earned during the quarter. Interest of $368 should be accrued on the notes payable. Supplies on hand total $782. Insurance expires at the rate of $368 per month. Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. 1. 2 Date Account Titles and Explanation Mar. 311 Mar. 31 Debit Credit No. Date Account Titles and Explanation 1. Mar. 31 2. Mar. 31 3 4. 5. Mar. 31 Mar. 31 Mar, 31 Debit D Credit The ledger of Windsor, Inc. on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared. Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense. Debit $2,760 3,312 23,000 0 12,880 Credit $7,728 18,400 11.408 55,200 An analysis of the accounts shows the following. 1. 2. 3. 4. 5. The equipment depreciates $260 per month. Half of the unearned rent revenue was earned during the quarter. Interest of $368 should be accrued on the notes payable. Supplies on hand total $782. Insurance expires at the rate of $368 per month. Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. 1. 2 Date Account Titles and Explanation Mar. 311 Mar. 31 Debit Credit No. Date Account Titles and Explanation 1. Mar. 31 2. Mar. 31 3 4. 5. Mar. 31 Mar. 31 Mar, 31 Debit D Credit

Answer rating: 100% (QA)

Debit Credit 1 Mar 31 Supplies 2760 2 Mar 31 Prepaid Insuranc... View the full answer