The following adjusting entries for Pare Company were prepared after completing a bank reconciliation. For each of the following adjustments, prepare a probable explanation for the adjusting entry. 
Definitions:
Tuition Fees
Charges imposed by educational institutions for instruction and other services, a major component of the cost of higher education.
Price-Elastic Demand
Describes a situation where the quantity demanded of a good or service significantly changes in response to changes in its price.
Community College
A public institution providing higher education and lower-level tertiary education, granting certificates, diplomas, and associate degrees.
Price Discrimination
The strategy of selling the same product to different customers at different prices based on their willingness to pay, not differences in production costs.
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