a$.-$b$.$ Merchandise Inventory, before adjustment, has a balance of $$8,100.$ The newly counted inventory balance is $$8,600.$

c$.$ Unearned SeminarFees has a balance of $$6,600,$ representing prepayment by customers for five seminars to be conducted in June, July, and August $20$X$1.$ Two seminars had been conducted by June $30,20$X$1.$

d$.$ Prepaid Insurance has a balance of $$15,600$ for six months' insurance paid in advance on May $1,201.$

e$.$ Store equipment costing $$8,360$ was purchased on March $31,201.$ It has a salvage value of $$560$ and a useful life of five years.

f$.$ Employees have earned $$310$ that has not been paid at June $30,20$X$1.$

g$.$ The employer owes the following taxes on wages not paid at June $30,20$X$1$: SUTA, $$9\mathrm{.}30$; FUTA, $$1\mathrm{.}86$; Medicare, $$4\mathrm{.}50$; and social security, $$19\mathrm{.}22.$

h$.$ Management estimates uncollectible accounts expense at $1$ percent of sales. This year's sales were $$2,600,000.$

i$.$ Prepaid Rent has a balance of $$7,500$ for six months' rent paid in advance on March $1,20$X$1.$

j$.$ The Supplies account in the general ledger has a balance of $$460.$ A count of supplies on hand at June $30,20\backslash$times $1,$ indicated $$180$ of supplies remain.

k$.$ The company borrowed $$8,400$ from Second Bancorp on June $1,20$X$1,$ and issued a four$-$month note. The note bears interest at $9$ percent.

Required:

Based on the information above, record the adjusting journal entries that must be made for Ambriz Distributors on June $30,20$X$1.$ 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 Prepaid Rent account?

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