Willis Consulting follows the approach of recording prepaid expenses as expenses and unearned revenues as revenues. Willis's unadjusted trial balance for the year ended March 31, 2020, follows WILLES CONSULTING Trial Balances March 31, 2020 Unadjusted, Trial Balance Adjustments Adjusted Trial Balance Account Cash Dr. $31,000 Cr. Dr. Cr. Dr. Cr. Accounts receivable 62,000 Prepaid rent Prepaid insurance Accounts payable Unearned consulting revenue Bruce Wills, capital Consulting revenue Rent expense Insurance expense Totals $ 15,000 37,400 77,000 31,990 4,410 $129,400 $ 129,400 Additional information: a. A review of the Consulting Revenue account showed that $5,400 of the balance has not yet been earned b. The balance in the Rent Expense account was paid on January 15, 2020, and represents seven months of rent beginning February 1.2020 c. It was determined that $2,900 of the balance in the Insurance Expense account was used by March 31, 2020