Lewis Technical Institute (LTI), a school owned by Sharon Lewis, provides training to individuals who pay tuition directly to the school LTI also offers training to groups in off site locations Its unadjusted trial balance as of December 31, 2022, 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 follow An analysis of LTIs insurance policies shows that $2,550 of coverage has expired An inventory count shows that teaching supplies costing $3,640 are available at year end Annual depreciation on the equipment is $4,200 Annual depreciation on the professional library is $7,800 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 $2,600, and the client paid the first five months fees in advance When the cash was received, the Unearned Training Fees account was credited On October 15, LTI agreed to teach a four month class (beginning immediately) for an executive with payment due at the end of the class At December 31, $3,000 of the tuition has been earned by LTI LTIs two employees are paid weekly As of the end of the year, two days salaries have accrued at the rate of $220 per day for each employee The balance in the Prepaid Rent account represents rent for December Please check my work and fill in this table No Date Account Title Debit Credit 1 Dec 31 Insurance expense 2,550 Prepaid insurance 2,550 2 Dec 31 5,410 Teaching supplies expense Teaching supplies 5,410 3 Dec 31 4,200 Depreciation expense Equipment Accumulated depreciation Equipment 4,200 4 Dec 31 7,800 Depreciation expense Professional library Accumulated depreciation Professional library 7,800 5 Dec 31 Unearned training fees Training fees earned 6 Dec 31 Accounts receivable Tuition fees earned 7 Dec 31 880 Salaries expense Salaries payable 880 00 Dec 31 Rent expense 4,400 Prepaid rent 4,400

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Lewis Technical Institute (LTI), a school owned by Sharon Lewis, provides training to individuals who pay tuition directly to the school. LTI also offers training

Lewis Technical Institute (LTI), a school owned by Sharon Lewis, provides training to individuals who pay tuition directly to the school. LTI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, 2022, 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 follow.

An analysis of LTIs insurance policies shows that $2,550 of coverage has expired.
An inventory count shows that teaching supplies costing $3,640 are available at year-end.
Annual depreciation on the equipment is $4,200.
Annual depreciation on the professional library is $7,800.
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 $2,600, and the client paid the first five months fees in advance. When the cash was received, the Unearned Training Fees account was credited.
On October 15, LTI agreed to teach a four-month class (beginning immediately) for an executive with payment due at the end of the class. At December 31, $3,000 of the tuition has been earned by LTI.
LTIs two employees are paid weekly. As of the end of the year, two days salaries have accrued at the rate of $220 per day for each employee.
The balance in the Prepaid Rent account represents rent for December.

Please check my work and fill in this table. image text in transcribed

No Date Account Title Debit Credit 1 Dec 31 Insurance expense 2,550 Prepaid insurance 2,550 2 Dec 31 5,410 Teaching supplies expense Teaching supplies 5,410 3 Dec 31 4,200 Depreciation expense - Equipment Accumulated depreciation - Equipment 4,200 4 Dec 31 7,800 Depreciation expense - Professional library Accumulated depreciation - Professional library 7,800 5 Dec 31 Unearned training fees Training fees earned 6 Dec 31 Accounts receivable Tuition fees earned 7 Dec 31 880 Salaries expense Salaries payable 880 00 Dec 31 Rent expense 4,400 Prepaid rent 4,400