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The Artisan Wines is a retail store selling vintage wines. On December 31, 2019, the firms general ledger contained the accounts and balances below. All

The Artisan Wines is a retail store selling vintage wines. On December 31, 2019, the firms general ledger contained the accounts and balances below. All account balances are normal.

Cash $ 24,308
Accounts Receivable 410
Prepaid Advertising 1,020
Supplies 210
Merchandise Inventory 14,100
Store Equipment 24,100
Accumulated DepreciationStore Equipment 2,100
Office Equipment 4,100
Accumulated DepreciationOffice Equipment 1,050
Notes Payable, due 2020 11,000
Accounts Payable 2,615
Wages Payable
Social Security Tax Payable
Medicare Tax Payable
Unearned Seminar Fees 9,500
Interest Payable
Vincent Arroyo, Capital 31,800
Vincent Arroyo, Drawing 13,210
Income Summary
Sales 149,470
Sales Discounts 110
Seminar Fee Income
Purchases 90,100
Purchases Returns and Allowances 1,900
Freight In 180
Rent Expense 12,300
Wages Expense 22,000
Payroll Taxes Expense 3,047
Depreciation ExpenseStore Equipment
Depreciation ExpenseOffice Equipment
Advertising Expense
Supplies Expense
Interest Expense 240

ADJUSTMENTS:

a.b. Merchandise inventory at December 31, 2019, was counted and determined to be $11,100.

The amount recorded as prepaid advertising represents $1,020 paid on September 1, 2019, for 12 months of advertising.

The amount of supplies on hand at December 31 was $55.

Depreciation on store equipment was $2,900 for 2019.

Depreciation on office equipment was $775 for 2019.

Unearned Seminar Fees represent $9,500 received on November 1, 2019, for five seminars. At December 31, four of these seminars had been conducted.

Wages owed but not paid at December 31 were $600.

On December 31, 2019, the firm owed the employers social security tax ($37.20) and Medicare tax ($8.70).

The note payable bears interest at 6% per annum. One months interest is owed at December 31, 2019.

Required:

Prepare the Trial Balance section of a 10-column worksheet. The worksheet covers the year ended December 31, 2019.

Enter the adjustments above in the Adjustments section of the worksheet.

Complete the worksheet.

Analyze: What was the amount of revenue earned by conducting seminars during the year ended December 31, 2019?

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