The ledger of Hammond Inc. on March 31, 2022, includes these selected accounts before adjusting entries are prepared.

Posted: January 10th, 2022

The ledger of Hammond Inc. on March 31, 2022, includes these selected accounts before adjusting entries are prepared.

Debit Credit

Prepaid Insurance $ 3,600

Supplies 2,800

Equipment 25,000

Accumulated Depreciation—Equipment $5,000

Unearned Service 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 equipment depreciates $200 a month.

4.During March, services were performed for $4,000 of the unearned service revenue reported.

Prepare the adjusting entries for the month of March.