GL$0302($Algo$)-$ Based on Problem $3-3$A LO P$1,$ P$2,$ P$3,$ P$4,$ P$5$

Perez Technical Institute $($PTI$),$ a school owned by Juan Perez, provides training to individuals who pay tuition directly to the school. PTI also offers training to groups in off$-$site locations. Its unadjusted trial balance as of December $31,$ is found on the trial balance tab. PTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through $h$ that require adjusting entries on December $31.$

a$.$ An analysis of PTI's insurance policies shows that $$2,600$ of coverage has expired.

b$.$ An inventory count shows that teaching supplies costing $$3,160$ are available at year$-$end.

c$.$ Annual depreciation on the equipment is $$6,600.$

d$.$ Annual depreciation on the professional library is $$12,600.$

e$.$ On September $1,$ PTI agreed to do five courses for a client for $$3,200$ each. Two courses will start immediately and finish before the end of the year. Three courses will not begin until next year. The client paid $$16,000$ cash in advance for all five courses on September $1,$ and PTI credited Unearned Training Fees.

f$.$ On October $15,$ PTI agreed to teach a four$-$month class $($beginning immediately$)$ for an executive with payment due at the end of the class. At December $31,$ $$8,500$ of the tuition has been earned by PTI.

g$.$ PTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $$180$ per day for each employee.

h$.$ The balance in the Prepaid Rent account represents rent for December.

$\backslash$table$[[$Requirement$,\backslash$table$[[$General$],[$Journal$]],\backslash$table$[[$General$],[$Ledger$]],$Trial Balance,$\backslash$table$[[$Income$],[$Statement$]],\backslash$table$[[$St Owner$],[$Equity$]],$Balan$]]$

Use the drop$-$downs to select the accounts properly included on the balance sheel balances will appear for each account, based on your selection. Include all balance she zero balances.

Adjusted

$\backslash$table$[[$Perez Technical Institute,$],[$Balance Sheet,,$],[$December $31,,],[$Assets$,,],[,,],[$Current assets,,$0],[,,0],[,,0],[,,0]]$