Answer:
1. The equipment depreciates $400 per month.
Dr Depreciation expense 1,200
Cr Accumulated depreciation - equipment 1,200
3 months worth of depreciation expense
2. One-third of the unearned rent revenue was earned during the quarter.
Dr Unearned rent revenue 3,400
Cr Rent revenue 3,400
3. Interest totaling $500 is accrued on the notes payable for the quarter.
Dr Interest expense 500
Cr interest payable 500
4. Supplies on hand total $900.
Dr Supplies expense 1,900
Cr Supplies 1,900
5. Insurance expires at the rate of $200 per month.
Dr Insurance expense 600
Cr Prepaid insurance 600
3 months worth of insurance expense