Problem 12.6A (Algo) Recording adjustments and completing the worksheet. LO 12-1, 12-2, 12-3, 12-4 The Artisan Wines is a retail store selling vintage wines. On December 31, 20X1, the firm's general ledger contained the accounts and balances below. All account balances are normal. Cash Accounts Receivable $ 36,283 540 Prepaid Advertising 720 Supplies 340 Merchandise Inventory 15,400 Store Equipment 25,400 Accumulated Depreciation-Store Equipment 3,400 Office Equipment 5,400 Accumulated Depreciation-Office Equipment 1,700 Notes Payable, due 20x2 24,000 Accounts Payable 2,745 Wages Payable Social Security Tax Payable Medicare Tax Payable Unearned Seminar Fees 7,000 Interest Payable Vincent Carbone, Capital 33,100 Vincent Carbone, Drawing 14,510 Income Summary Sales 155,970 Sales Discounts 240 Seminar Fee Income Purchases 91,400 Purchases Returns and Allowances 1,400 Freight In 245 Rent Expense 13,600 Wages Expense 22,000 Payroll Taxes Expense 3,047 Depreciation Expense-Store Equipment Depreciation Expense-Office Equipment Advertising Expense Supplies Expense Interest Expense 190 ADJUSTMENTS: a.-b. Merchandise inventory at December 31, 20X1, was counted and determined to be $12,400. c. The amount recorded as prepaid advertising represents $720 paid on September 1, 20X1, for 12 months of advertising. d. The amount of supplies on hand at December 31 was $120. e. Depreciation on store equipment was $3,225 for 20X1. f. Depreciation on office equipment was $1,100 for 20X1. g. Unearned Seminar Fees represent $7,000 received on November 1, 20X1, for five seminars. At December 31, four of these seminars had been conducted. h. Wages owed but not paid at December 31 were $600. I. On December 31, 20X1, the firm owed the employer's social security tax ($37.20) and Medicare tax ($8.70). J. The note payable bears interest at 7 percent per annum. One months interest is owed at December 31, 20X1. Required: 1. Prepare the Trial Balance section of a 10-column worksheet. The worksheet covers the year ended December 31, 20X1. 2. Enter the adjustments above in the Adjustments section of the worksheet. 3. Complete the worksheet. Analyze: What was the amount of revenue earned by conducting seminars during the year ended December 31, 20X1?