Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly Supplies Prepaid Insurance

Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly

 

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Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense 1. 2. Debit Credit $4,800 5,760 40,000 3. 4. 5. 0 22,400 An analysis of the accounts shows the following. The equipment depreciates $448 per month. Half of the unearned rent revenue was earned during the quarter. $13,440 32,000 19,840 96,000 Interest of $640 is accrued on the notes payable. Supplies on hand total $1,360. Insurance expires at the rate of $640 per month Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense 1. 2. Debit Credit $4,800 5,760 40,000 3. 4. 5. 0 22,400 An analysis of the accounts shows the following. The equipment depreciates $448 per month. Half of the unearned rent revenue was earned during the quarter. $13,440 32,000 19,840 96,000 Interest of $640 is accrued on the notes payable. Supplies on hand total $1,360. Insurance expires at the rate of $640 per month

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Adjusting Entries Transaction 1 2 3 4 5 General Journ... View the full answer