M S A Prepare adjusting entries from selected account data E38 (LO 2, 3) The ledger of Villa Rental Agency on March 31 of the current year includes the selected accounts, shown below, before adjusting entries have been prepared Prepaid Insurance Supplies Equipment Accumulated Debit Credit 3,600 2,800 25,000 Depreciation-Equipment Notes Payable Unearned Rent Revenue 8,400 20,000 10,200 Rent Revenue 60,000 Interest Expense -0- Salaries and Wages Expense 14,000 An analysis of the accounts shows the following 1. The equipment depreciates 400 per month. 2.One-third of the unearned rent revenue was recognized as revenue during the quarter 3. Interest of 500 is accrued on the notes payable. 4. Supplies on hand total 750.