a b Merchandise Inventory , before adjustment, has a balance of $6,800 The newly counted inventory balance is $7,300 Unearned Seminar Fees has a balance of $5,300, representing prepayment by customers for five seminars to be conducted in June, July, and August 20X1 Two seminars had been conducted by June 30, 20X1 Prepaid Insurance has a balance of $7,800 for six months insurance paid in advance on May 1, 20X1 Store equipment costing $17,710 was purchased on March 31, 20X1 It has a salvage value of $430 and a useful life of six years Employees have earned $180 that has not been paid at June 30, 20X1 The employer owes the following taxes on wages not paid at June 30, 20X1 SUTA, $5 40 FUTA, $1 08 Medicare, $2 61 and social security, $11 16 Management estimates uncollectible accounts expense at 1 percent of sales This years sales were $1,300,000 Prepaid Rent has a balance of $5,550 for six months rent paid in advance on March 1, 20X1 The Supplies account in the general ledger has a balance of $330 A count of supplies on hand at June 30, 20X1, indicated $115 of supplies remain The company borrowed $10,000 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 Sufen Consulting on June 30, 20X1 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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a.-b. Merchandise Inventory , before adjustment, has a balance of $6,800. The newly counted inventory balance is $7,300. Unearned Seminar Fees has a balance of

a.-b. Merchandise Inventory, before adjustment, has a balance of $6,800. The newly counted inventory balance is $7,300.

Unearned Seminar Fees has a balance of $5,300, representing prepayment by customers for five seminars to be conducted in June, July, and August 20X1. Two seminars had been conducted by June 30, 20X1.
Prepaid Insurance has a balance of $7,800 for six months insurance paid in advance on May 1, 20X1.
Store equipment costing $17,710 was purchased on March 31, 20X1. It has a salvage value of $430 and a useful life of six years.
Employees have earned $180 that has not been paid at June 30, 20X1.
The employer owes the following taxes on wages not paid at June 30, 20X1: SUTA, $5.40; FUTA, $1.08; Medicare, $2.61; and social security, $11.16.
Management estimates uncollectible accounts expense at 1 percent of sales. This years sales were $1,300,000.
Prepaid Rent has a balance of $5,550 for six months rent paid in advance on March 1, 20X1.
The Supplies account in the general ledger has a balance of $330. A count of supplies on hand at June 30, 20X1, indicated $115 of supplies remain.
The company borrowed $10,000 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 Sufen Consulting on June 30, 20X1. 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?