On March $31,2024,$ Sheridan Rental Agency Inc's trial balance included the following selected unadjusted account balances. The company's year end is December $31$ and it adjusts its accounts quarterly

$\backslash$table$[[$Prepaid insurance,Debit,Credit$],[$Supplies$,$$$19,400,],[$Equipment$,7,800,],[$Accumulated depreciation$-$equipment,,$],[$Deferred revenue,$$5,920,],[$Bankloan payable, due $2026,,14,010],[$Rent income,,$25,000],[$Salaries expense,,$35,000]]$

An analysis of the accounts shows the following:

The equipment, which was purchased on January $1,2023,$ is estimated to have a useful life of four years. The company uses straight$-$line depreciation.

One$-$third of the deferred revenue related to rent is still unearned at the end of the quarter.

The bank loan payable has an interest rate of $6\%.$ Interest is paid on the first day of each following month and was last paid on March $1,2024.$

Supplies on hand total $$3,350$ at March $31.$

The one$-$year insurance policy was purchased for $$19,400$ on January $1.$

Income tax is estimated to be $$5,700$ for the quarter.

Prepare the quarterly adjusting entries required at March $31.($Credit account thrs are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts.$)$Prepare the quarterly adjusting entries required at March $31.($Credit account titles are automatically indented when omount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select $"$No Entry for the account titles and enter O for the amounts.$)$

No$.$ Date

Mar. $31$

Mar. $31$

Mar. $31$

Mar. $31$

Mar. $31$

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Mar. $31$

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eTextbook and Media

List of Accounts

Debit

Credit

Credit

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