Based on the information below, record the adjusting journal entries that must be made for D. Johnson Products, LLC, on December 31, 20X1. The company has a December 31 fiscal year-end. Use 18 as the page number for the general journal. a.–b. Merchandise Inventory, before adjustment, has a balance of $9,600. The newly counted inventory balance is $10,500. c. Unearned Seminar Fees has a balance of $18,800, representing prepayment by customers for four seminars to be conducted in December 20X1 and January 20X2. Three seminars had been conducted by December 31, 20X1. d. Prepaid Insurance has a balance of $13,200 for six months’ insurance paid in advance on November 1, 20X1. e. Store equipment costing $12,000 was purchased on September 1, 20X1. It has a salvage value of $600 and a useful life of five years. f. Employees have earned $2,000 of wages not paid at December 31, 20X1. g. The employer owes the following taxes on wages not paid at December 31, 20X1: SUTA, $60.00; FUTA, $12.00; Medicare, $29.00; and social security, $124.00. h. Management estimates uncollectible accounts expense at 1.5 percent (0.015) of sales. This year’s sales were $3,250,000. i. Prepaid Rent has a balance of $20,250 for nine months’ rent paid in advance on August 1, 20X1. j. The Supplies account in the general ledger has a balance of $780. A count of supplies on hand at December 31, 20X1, indicated $150 of supplies remain. k. The company borrowed $22,500 on a two-month note payable dated December 1, 20X1. The note bears interest at 8 percent. Analyze: After all adjusting entries have been journalized and posted, what is the balance of the Unearned Seminar Fees account?