The ledger of Hammond, Inc. on March 31, 2010, includes the following selected accounts before adjusting entries.
|
Debit
|
Credit
|
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Prepaid Insurance
|
3,600
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Office Supplies
|
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Office Equipment
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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.