Note; Although numbers 1, 2, and 3 are green, they are not completed.

Problem 12.1A (Algo) 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 20X1. Two seminars had been conducted by June 30, 20X1. d. Prepaid Insurance has a balance of $9,600 for six months' insurance paid in advance on May 1, 20X1. e. Store equipment costing $15,580 was purchased on March 31, 20X1. 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, 20X1. g. The employer owes the following taxes on wages not paid at June 30, 20X1: 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, 20X1. j. The Supplies account in the general ledger has a balance of $360. A count of supplies on hand at June 30, 20X1, indicated $130 of supplies remain. k. The company borrowed $9,400 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? Record an adjusting entry for beginning inventory. 2 Record an adjusting entry for ending inventory. 3 Record an adjusting entry for seminar fees earned. 4 Record an adjusting entry for insurance expired. 5 Record an adjusting entry for depreciation. 6 Record an adjusting entry for wages owed. 7 Record an adjusting entry for payroll taxes owed. 8 Record an adjusting entry for uncollectible accounts. 9 Record an adjusting entry for rent. 10 Record an adjusting entry for supplies used. 11 Record an adjusting entry for interest