The ledger of Marin Inc. on March 31, 2017, includes the following selected accounts before adjusting entries.
Debit Credit
Supplies 3,970
Prepaid Insurance 2,240
Equipment 28,500
Unearned Service Revenue 11,700
An analysis of the accounts shows the following.
(1) Insurance expires at the rate of $280 per month.
(2) Supplies on hand total $965.
(3) The equipment depreciates $190 per month.
(4) During March, services were performed for two-fifths of the unearned service revenue.
Prepare the adjusting entries for the month of March.
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