Exam I Part I]: Problem Management Group, Inn, adjusts and closes its books each month. The trial balance at March 31, 2011 before adjustments is as follows: Debit Credit Cash __________________________________________ 20,1350 Accounts Receivable _________________ 30,1]EH] Supplies. ____________________________________ 3,?50 Prepaid Advertising ___________________ EACH] Equipment _______________________________ $12,000 Accumulated Depreciation: Equipment 25,001] Unearned Consulting Fees ............ 10,501] Capital Stock ______________________ 20,001] Retained Earnings ................... 20,501] Consulting Fees Earned. _____________ 332501] Salaries Expense .................... 32,0117 Utilities Expense ___________________ 1,2III Rent Expense ........................ ELED The following information relates to month-end adjustments: a According to contacts, consulting fees received in advance that were earned in March total 513,001]. b On January 1, 2011, the company paid in advance for 0 months' advertising in professionaljour'nals c At March 31, supplies on hand ammmt to $1,250- d The equipment has an original estimated useful life of 5 years. Required: 1. Prepare the required adjusting entries in journal form. 2. After the proper adjusting entrjr is made, what is the balance in the Unearned Consulting Fees account at l'darch 31