Check my work Problem 12.1A Recording adjustments for accrued and prepaid items and unearned income. LO 12-2, 12-3 a.-b. Merchandise Inventory, before adjustment, has a balance of $7,100. The newly counted inventory balance is $7,600 c. Unearned Seminar Fees has a balance of $5,600, 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 $9,600 for six months' insurance paid in advance on May 1, 2019. e. Store equipment costing $15,580 was purchased on March 31, 2019. It has a salvage value of $460 and a useful life of six years. f. Employees have earned $210 that has not been paid at June 30, 2019. g. The employer owes the following taxes on wages not paid at June 30, 2019: SUTA, $6.30; FUTA, $1.26; Medicare, $3.05; and social security, $13.02 h. Management estimates uncollectible accounts expense at 1 percent of sales. This year's sales were $1,600,000 i. Prepaid Rent has a balance of $6,000 for six months' rent paid in advance on March 1, 2019. .The Supplies account in the general ledger has a balance of $360. A count of supplies on hand at June 30, 2019, indicated $130 of supplies remain. k. The company borrowed $9,400 from First Bank on June 1, 2019, 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, 2019. 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? Complete this question by entering your answers in the tabs below. General Journal Analyze Based on the above information, record the adjusting journal entries that must be made for Sufen Consulting on June 30, company has a June 30 fiscal year-end. (Round your final answers to 2 decimal places.) View transaction list Journal entry worksheet 2 4 6 7 8 Record the adjustment for beginning inventory. Note: Enter debits before credits. General Journal Debit Credit Transaction a. View general journal Record entry Clear entry Journal entry worksheet Record the adjustment for ending inventory Note: Enter debits before credits Credit Transaction General Journal Debit b. Record entry Clear entry View general journal Journal entry worksheet K1 2 3 45 6 78.... 11 Record the adjustment for seminar fees earned. Note: Enter debits before credits. General Journal Debit Credit Transaction C. Record entry View general journal Clear entry Journal entry worksheet 1 23 45 6 78.... 11 Record the adjustment for insurance expired. Note: Enter debits before credits. Debit Transaction General Journal Credit d. Record entry Clear entry View general journal Journal entry worksheet 1 2 3 7 8 4 Record the adjustment for depreciation. Note: Enter debits before credits. Debit Transaction Credit General Journal e. Record entry Clear entry View general journal Journal entry worksheet 6 Record the adjustment for wages owed. Note: Enter debits before credits. Debit Credit General Journal Transaction View general journal Record entry Clear entry Journal entry worksheet 4 6 7 Record the adjustment for payroll taxes owed Note: Enter debits before credits. Debit General Journal Credit Transactionn Record entry View general journal Clear entry Journal entry worksheet 2 3 4 6 8 Record the adjustment for uncollectible accounts. Note: Enter debits before credits. Debit Transaction General Journal Credit h. View general journal Record entry Clear entry Journal entry worksheet 1 . 45 6 789.... 11 Record the adjustment for rent. Note: Enter debits before credits. Transaction General Journal Debit Credit Clear entry View general journal Record entry Journal entry worksheet 1 456 78 91011 Record the adjustment for supplies used. Note: Enter debits before credits Transaction General Journal Credit Debit Record entry View general journal Clear entry Journal entry worksheet 1 . . 45 6 78910 11 Record the adjustment for interest. Note: Enter debits before credits Credit Transaction General Journal Debit k. View general journal Record entry Clear entry General Journal Analyze After all adjusting entries have been journalized and posted, what is the balance of the Prepaid Rent account? Prepaid rent, June 30, 2019