Adjusting entries the wheel place, inc., began operations on march 1 to provide automotive wheel alignment and balancing services. on march 31, 2012, the unadjusted balances of the firm's accounts are as follows: the wheel place, inc. unadjusted trial balance march 31, 2012 debit credit cash $1,900 accounts receivable 3,820 prepaid rent 4,780 supplies 3,700 equipment 36,000 accounts payable 2,340 unearned service revenue 1,000 common stock 38,400 service revenue 12,360 wages expense 3,900 totals $54,100 $54,100 the following information is also available: the balance in prepaid rent was the amount paid on march 1 for the first 4 months rent. supplies on hand on march 31 were $1,750. the equipment, has an estimated life of 4 years. unpaid wages at march 31 were $860. utility services used during march were estimated at $420. a bill is expected early in april. the balance in unearned service revenue was the amount received on march 1 from a new car dealer to cover alignment and balancing services on all new cars sold by the dealer in march and april. the wheel place agreed to provide the services at a fixed fee of $530 each month.