GLO302 - Based on Problem 3-3A LO P1, P2, P3, P4, P6 Martin Technical Institute (MTI), a school owned by Lindsey Martin, provides training to individuals who pay tuition directly to the school. MTI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, is found on the trial balance tab. MTI Initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through that require adjusting entries on December 31, a. An analysis of MTI's insurance policies shows that $2,400 of coverage has expired. b. An inventory count shows that teaching supplies costing $3,240 are available at year-end. c. Annual depreciation on the equipment is $5,400. d. Annual depreciation on the professional library is $10,200 e. On September 1, MTI agreed to do five courses for a client for $2,600 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 $13,000 cash in advance for all five courses on 1. on October 15, MTI agreed to teach a four-month class (beginning immediately) for an executive with payment due at the end of g. Mais two employees are pold weekly, As of the end of the year, two days' salaries have accrued at the rate of $220 per day for n. The balance in the Prepold Rent account represents rent for December General General Requirement Income Trial Balance St Owner Journal Impact on Ledger Statement Equity Balance Sheet income For transactions an, review the unadjusted balance and prepare the adjusting entry necessary to correctly report the revenue earned or the expense incurred. Each adjustment is posted automatically to the general ledger and trial balance as soon as you click "record entry GLO302 - Based on Problem 3-3A LO P1, P2, P3, P4, P6 Martin Technical Institute (MTI), a school owned by Lindsey Martin, provides training to individuals who pay tuition directly to the school. MTI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, is found on the trial balance tab. MTI Initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through that require adjusting entries on December 31, a. An analysis of MTI's insurance policies shows that $2,400 of coverage has expired. b. An inventory count shows that teaching supplies costing $3,240 are available at year-end. c. Annual depreciation on the equipment is $5,400. d. Annual depreciation on the professional library is $10,200 e. On September 1, MTI agreed to do five courses for a client for $2,600 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 $13,000 cash in advance for all five courses on 1. on October 15, MTI agreed to teach a four-month class (beginning immediately) for an executive with payment due at the end of g. Mais two employees are pold weekly, As of the end of the year, two days' salaries have accrued at the rate of $220 per day for n. The balance in the Prepold Rent account represents rent for December General General Requirement Income Trial Balance St Owner Journal Impact on Ledger Statement Equity Balance Sheet income For transactions an, review the unadjusted balance and prepare the adjusting entry necessary to correctly report the revenue earned or the expense incurred. Each adjustment is posted automatically to the general ledger and trial balance as soon as you click "record entry