Lee Technical Institute (LTD), a school owned by Edward Lee, provides training to individuals who pay tuition directly to the school. LT also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, 2017, is found on the trial balance tab. LTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through h that require adjusting entries on December 31, 2017, follow a. An analysis of LTI's insurance policies shows that $2,500 of coverage has expired b. An inventory count shows that teaching supplies costing $2,880 are available at year-end 2017 c. Annual depreciation on the equipment is $8,400. d. Annual depreciation on the professional library is $9,800 e. On November 1, LTI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $2,800, and the client paid the first five months' fees in advance. When the cash was received, the Unearned Training Fees account was credited. The fee for the sixth month will be recorded when it is collected in 2018 t. On October 15, LTi agreed to teach a four-month class (beginning immediately) for an individual for $3,400 tuition per month 9. LTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $140 per day for each h. The balance in the Prepaid Rent account represents rent for December payable at the end of the class. The class started on October 15, but no payment has yet been received. (LTI's accruals are applied to the nearest half-month; for example, October recognizes one-half month accrual.) employee Requirement SeaCeger ra ance statemento General Journal General Ledger IncomeS Statement st owner l Equity Balance Sheet Impact on Sheetincome You may view either the unadjusted or adjusted trial balance by choosing from the drop-down box below. Your choice will determine the reported values on the financial statement tabs. Adjusted