a.-b. Merchandise Inventory, before adjustment, has a balance of $6,800. The newly counted inventory balance is $7,300. c. 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. d. Prepaid Insurance has a balance of $7,800 for six months' insurance paid in advance on May 1, 20X1. e. 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. f. Employees have earned $180 that has not been paid at June 30, 20X1. g. The employer owes the following taxes on wages not paid at June 30, 201: SUTA, $5.40; FUTA, $1.08; Medicare, $2.61; and social security, $11.16. h. Management estimates uncollectible accounts expense at 1 percent of sales. This year's sales were $1,300,000. i. Prepaid Rent has a balance of $5,550 for six months' rent paid in advance on March 1, 20X1. j. 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. k. 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?