-b. Merchandise Inventory, before adjustment, has a balance of $7,400. The newly counted Inventory balance is $7,900. c. Unearned Seminar Fees has a balance of $5,900, 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 $11,400 for six months insurance paid in advance on May 1, 2019. osting $13,450 was purchased on March 31, 2019. It has a salvage value of $490 and a useful life of six years f. Employees have earned $240 that has not been paid at June 30, 2019 9. The employer owes the following taxes on wages not paid at June 30, 2019. SUTA, S720; FUTA, $1.44; Medicare, $3.48; and social security, $14.88. h. Management estimates uncollectible accounts expense at 1 percent of sales. This year's sales were $1,900,000 1. Prepaid Rent has a balance of $6,450 for six months' rent paid in advance on March 1, 2019. J. The Supplies account in the general ledger has a balance of $390. A count of supplies on hand at June 30, 2019, indicated $145 of supplies remain k. The company borrowed $8.800 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? 3332