Prepare the adjusting entries for the month of march

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The ledger of Hammond, Inc., on March 31, 2008, includes the following selected accounts before adjusting entries.

 

Debit

Credit

Prepaid Insurance

3,600

 

Office Supplies

2,800

 

Office Equipment

25,000

 

Accumulated Depreciation-Office Equipment

 

5,000

Unearned Revenue

 

9,200

An analysis of the accounts shows the following:

1. Insurance expires at the rate of $100 per month.

2. Supplies on hand total $800.

3. The office equipment depreciates $200 a month.

4. One-half of the unearned revenue was earned in March.

Prepare the adjusting entries for the month of March.

Reference no: EM13550331

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