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a.-b. Merchandise Inventory, before adjustment, has a balance of $6,700. The newly counted inventory balance is $7.200. c. Unearned Seminar Fees has a balance of
a.-b. Merchandise Inventory, before adjustment, has a balance of $6,700. The newly counted inventory balance is $7.200. c. Unearned Seminar Fees has a balance of $5,200, representing prepayment by customers for five seminars to be conducted in June, July, and August 2019. Two seminars had been conducted by June 30, 2019. d. Prepaid Insurance has a balance of $7,200 for six months' insurance paid in advance on Mav 1. 2019. e. Store equipment costing $15,420 was purchaked on March 31
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