Don't provide answer in image format The ledger of Concord Rental Agency on March 31 of the current year includes the selected accounts below before adjusting entrieshave been prepared.1.SuppliesPrepaid InsuranceEquipmentAccumulated Depreciation-Equipment2.3Notes PayableUnearned Rent RevenueRent RevenueInterest ExpenseSalaries and Wages ExpenseA1.2.5.3.No. Date Account Titles and Explanation4.An analysis of the accounts shows the following.The equipment depreciates $588 per month.Half of the unearned rent revenue was earned during the quarter.Interest of $8.40 is accrued on the notes payable.Supplies on hand total $1,785.Insurance expires at the rate of $840 per month5.Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. (List all debit entries before creditentries. If no entry is required, select "No Entry for the account titles and enter 0 for the amounts. Credit account titles areautomatically indented when the amount is entered. Do not indent manually.)Mar 31Mar. 31Mar. 31Debit$6,3007,56052,500Mar 31Mar. 31029,400Credit$17.64042,00026,040126,000DebitCredit100000

Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense 0 1. 29,400 26,040 126,000 An analysis of the accounts shows the following The equipment depreciates $588 per month 2. Half of the unearned rent revenue was earned during the quarter. 3. Interest of $840 is accrued on the notes payable. 4. Supplies on hand total $1,785 5. Insurance expires at the rate of $840 per month Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. (List all debit entries before credit

Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense 0 1. 29,400 26,040 126,000 An analysis of the accounts shows the following The equipment depreciates $588 per month 2. Half of the unearned rent revenue was earned during the quarter. 3. Interest of $840 is accrued on the notes payable. 4. Supplies on hand total $1,785 5. Insurance expires at the rate of $840 per month Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. (List all debit entries before credit

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter15: Preparing Adjusting Entries And A Trial Balance

Section: Chapter Questions

Problem 1MP

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