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[The following information applles to the questions displayed below.] Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to Individuals who pay tultion directly to the school. WTI also offers training to groups in off-site locations. WTI InItlally records prepaid expenses and unearned revenues in balance sheet accounts. Its unadjusted trlal balance as of December 31 follows, along with descriptions of Items a through h that require adjusting entrles on December 31 . Additional Information Items a. An analysis of WTI's Insurance policles shows that $2,807 of coverage has explred. b. An Inventory count shows that teaching supplies costing $2,433 are avallable at year-end. c. Annual depreclation on the equipment is $11,227. d. Annual depreclation on the professional library is $5,614. e. On September 1, WTI agreed to do five training courses for a client for $2,300 each. Two courses will start Immedlately and finlsh before the end of the year. Three courses will not begin untll next year. The cllent pald $11,500 cash In advance for all five tralnIng courses on September 1, and WTI credited Unearned Revenue. f. On October 15, WTI agreed to teach a four-month class (beginning Immedlately) for an executive with payment due at the end of the class. At December 31,$8,048 of the tultion revenue has been earned by WTI. g. WTI's two employees are pald weekly. As of the end of the year, two days' salarles have accrued at the rate of $100 per day for each employee. h. The balance In the Prepald Rent account represents rent for December. Complete this question by entering your answers in the tabs below

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