The ledger of sagovic rental agency on march 31 of the current year includes the selected accounts on page 206 before adjusting entries have been prepared. debits credits. prepaid insurance ($3600), supplies ($3000), equipment ($25,000), accumulated depreciation-equipment (credit: $8,400), notes payable (credit: $20,000), unearned rent revenue (credit: $12,400), rent revenue (credit: $60,000), interest expense $0, salaries and wages expense ($14,000).an analysis of the accounts shows the following.1. the equipment depreciates $280 per month.2. half of the unearned rent revenue was earned during the quarter.3. interest of $400 is accrued on the notes payable.4. supplies on hand total $850.5. insurance expires at the rate of $400 per month. prepare the adjusting entries on march 31, assuming that adjusting entries are made quarterly. additional accounts are: depreciation expense, insurance expense, interest payable, and supplies expense.