On March $31,2024,$ Oriole Rental Agency Inc.$\text{'}$s trial balance included the following selected unadjusted account balances. The

company's year end is December $31$ and it adjusts its accounts quarterly. 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 $$7,350$ at March $31.$

The one$-$year insurance policy was purchased for $$27,400$ on January $1.$

Income tax is estimated to be $$9,700$ for the quarter. Prepare the quarterly adjusting entries required at March $31.($Credit account titles 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 $0$ for the

amounts.$)$

No$.$ Date

Account Titles and Explanation

Debit

Credit

Mar. $31$

Accumulated Depreciation $-$ Equipment

Mar. $31$

Rent Income

Mar. $31$

Interest Expense

Interest Payable

Mar. $31$

Mar. $31$ Insurance Expense

Insurance Revenue Mar. $31$

Income Tax Expense