Current Attempt in Progress The ledger of Swifty Rental

Last updated: 4/10/2023

Current Attempt in Progress The ledger of Swifty Rental Agency on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense 1 2 3 4 An analysis of the accounts shows the following 5 1 2 3 A 5 No Date Account Titles and Explanation Mar 31 Debit Mar 31 5 700 Mar 31 6 840 Mar 31 47 500 Prepare the adjusting entries at March 31 assuming that adjusting entries are made quarterly 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 Credit account titles are automatically indented when the amount is entered Do not indent manually Mar 31 0 26 600 The equipment depreciates 532 per month Half of the unearned rent revenue was earned during the quarter Interest of 760 is accrued on the notes payable Supplies on hand total 1 615 Insurance expires at the rate of 760 per month Credit 15 960 38 000 23 560 114 000 Debit Credit