the june 30, 2021 unadjusted balances are included on the general ledger tab. based on the following information, record the adjusting journal entries that must be made for kisling distributors on june 30, 2021. the company has a june 30 fiscal year-end for the general journal. a. merchandise inventory, before adjustment, has a balance of $7,800. record the adjustment related to beginning inventory. b. the newly counted inventory balance is $8,300. record the adjustment related to ending inventory. c. unearned seminar fees has a balance of $6,300, representing prepayment by customers for five seminars to be conducted in june, july, and august 2021. two seminars had been conducted by june 30, 2021. d. prepaid insurance has a balance of $13,800 for six months' insurance paid in advance on may 1, 2021. e. store equipment costing $6,530 was purchased on march 31, 2021. it has a salvage value of $530, and a useful life of five years. f. employees have earned $28,000 that has not been paid at june 30, 2021. g. the employer owes the following taxes on wages not paid at june 30, 2021: suta, $840; futa, $168; medicare, $406; and social security, $1,736. h. management estimates uncollectible accounts expense at 1 percent of sales. this year's sales were $2,300,000. i. prepaid rent has a balance of $7,050 for six months' rent paid in advance on march 1, 2021. j. the supplies account in the general ledger has a balance of $430. a count of supplies on hand at june 30, 2021, indicated $165 of supplies remain. k. the company borrowed $4,800 from second bancorp on june 1, 2021, and issued a four-month note. the note bears interest at 9 percent.
