8196 [ Mon 10:22 ow History Bookmarks People WindowHelp Help Save&Exit Submi ework (ch 3) Check my work 0 Required Information Problem 3-3A Preparing adjusting entries, adjusted trial balance, and financial statements LO A1, P1 P2, P3 The following information applies to the questions alsplayed below) Wells Technical Insttute (WTD, a school owned by Tristana Wlls, provides training to individuals who pay tultion directly to the school. WTI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, 2017, follows. WTI initially records prepaid expenses Descriptions of items a through h that require adjusting entries on December 31, 2017, follow Additional Information Items and unearned revenues in balance sheet accounts a. An analysis of WTI's insurance policies shows that $2,400 of coverage has expired. c. Annual depreciation on the equipment is $13,200. d. Annual depreciation on the professional library is $7.200. inventory count shows that teaching supplies costing $2.800 are available at year-end 2017 e On November 1, WTI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $2,500, and the client paid the first five months' fees in advance. When the cash was received, the The fee for the sikth month will be recorded when it is collected in Unearned Training Fees account was credited 2018. to teach a four-month class (beginning immediately) for an individual for $3,000 tultion four-month class class. The class started on October 15, but no payment has yet been received. f. On October 15, WTI agreed 8 9