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a.-b. Merchandise Inventory, before adjustment, has a balance of$6,500. The newly counted inventory balance is $7,000. UnearnedSeminar Fees has a balance of $5,000, representing prepayment bycustomers for five seminars to be conducted in June, July, andAugust 2019. Two seminars had been conducted by June 30, 2019.Prepaid Insurance has a balance of $6,000 for six months’ insurancepaid in advance on May 1, 2019. Store equipment costing $19,840 waspurchased on March 31, 2019. It has a salvage value of $400 and auseful life of six years. Employees have earned $150 that has notbeen paid at June 30, 2019. The employer owes the following taxeson wages not paid at June 30, 2019: SUTA, $4.50; FUTA, $0.90;Medicare, $2.18; and social security, $9.30. Management estimatesuncollectible accounts expense at 1 percent of sales. This year’ssales were $1,000,000. Prepaid Rent has a balance of $5,100 for sixmonths’ rent paid in advance on March 1, 2019. The Supplies accountin the general ledger has a balance of $300. A count of supplies onhand at June 30, 2019, indicated $100 of supplies remain. Thecompany borrowed $10,600 from First Bank on June 1, 2019, andissued a four-month note. The note bears interest at 6 percent.Required: Based on the information above, record the adjustingjournal entries that must be made for Sufen Consulting on June 30,2019. The company has a June 30 fiscal year-end. Analyze: After alladjusting entries have been journalized and posted, what is thebalance of the Prepaid Rent account? Based on the aboveinformation, record the adjusting journal entries that must be madefor Sufen Consulting on June 30, 2019. The company has a June 30fiscal year-end. (Round your final answers to 2 decimalplaces.)

Journal entry worksheet

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Note: Enter debits before credits.

	Transaction General Journal Debit Credit b.