The ledger of Pina Colada Corp. on March 31, 2022, includes the following selected accounts before adjusting entries. Debit Credit
Prepaid Insurance $2,544
Supplies 2,650
Equipment 31,800
Unearned Service Revenue $9,540
Notes Payable 21,000
Unearned Rent Revenue 9,900
Rent Revenue 61,000
Interest Expense 0
Salaries and Wages Expense 11,000

An analysis of the accounts shows the following.

1. Insurance expires at the rate of $318 per month.
2. Supplies on hand total $1,166.
3. The equipment depreciates at $530 per month.
4. During March, services were performed for two-fifths of the unearned service revenue.

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

                          Adjusting entries

S/n   Account Titles                                  Debit      Credit

1       Depreciation Expense                       $1590

        ($530*3 = $954)

              Accumulated depreciation                          $1590

2      Unearned rent revenue                     $3,960

        ($9,900*2/5)

             Rent revenue                                                 $3,960

4     Supplies Expense                                $1,484

       ($2,650 -  $1,166)

              Supplies                                                         $1,484

5     Insurance Expense                                $954

       ($318*3)

               Insurance Prepaid                                         $954