Exercise 3-05 The ledger of Whispering Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared. Debit Credit Prepaid Insurance $3,900 Supplies 2,596 Equipment 23,960 Accumulated Depreciation-Equipment $7,711 Notes Payable 20,800 Unearned Rent Revenue 7,050 Rent Revenue 61,030 Interest Expense –0– Salaries and Wages Expense 14,510 An analysis of the accounts shows the following. 1. The equipment depreciates $259 per month. 2. One-third of the unearned rent was recognized as revenue during the quarter. 3. Interest of $470 is accrued on the notes payable. 4. Supplies on hand total $622. 5. Insurance expires at the rate of $325 per month. Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are Depreciation Expense, Insurance Expense, Interest Payable, and Supplies Expenses. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)