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a . - b . Merchandise Invensory, before adjustment, has a balance of $ 8 , 8 0 0 . The newly counted inventory balance

a.-b. Merchandise Invensory, before adjustment, has a balance of $8,800. The newly counted inventory balance is $9,300
c. Unearned Seminor Fees has a balance of $5,500, representing prepayment by customers for five seminars to be conducted in June, July, and August 20X1. Two seminars had been conducted by June 30,201
d. Prepoid Insurance has a balance of $13,200 for six months' insurance paid in advance on May 1,20X1.
e. Store equipment costing $6,530 was purchased on March 31,201. It has a salvage value of $530 and a useful life of five years
f. Employees have earned $280 that has not been paid at June 30,201. security, $17,36
h. Management estimates uncollectible accounts expense at 1 percent of sales. This year's sales were $2,350,000.
i. Prepoid Rent has a balance of $9.750 for six months' rent paid in advance on March 1,201
j. The supplies account in the general ledger has a balance of $550. A count of supplies on hand at June 30,20 X1, indicated $165 of supplies remain
k. The company borrowed $4,800 from Second Bancorp on June 1,20X1, and issued a four-month note. The note bears interest at 6 percent.
Required:
Based on the information above, record the adjusting journal entries that must be made for Ambriz Distributors on June 30,201. The company has a June 30 fiscal year-end
Analyze:
After all adjusting entries have been journalized and posted, what is the balance of the Prepoid Rent account?
Complete this question by entering your answers in the tabs below.
Based on the information above, record the adjusting journal entries that must he made for Ambriz Distributors on June 30,201. The company has a June 30 fiscal year-end.
Note: Round your final answers to 2 decimal places.
Journal entry worksheet
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