Pac Kim Carers peosdes training to individsals who pay taition directly to the business. The aso offers extension training to groups in off-site locations Additional information available at the December 31, 2014yas-end follows Problem 36A Ad-ting entree uted trial balance lou a. An analysis of the company's poilictes shows that $1.250 of insurance coverage has expired inventory shows that teraching supplies costing $450 are on hand at the end of the yea C. The estimated annal depreciation on the equipments d. The estimated annual depreciation on the peodessional library is 54.500 e. The school offers off-campus services for specific employers. On November 1, the company agreed to do a special six-month course for a client. The contract calls for a monthly fee of 5950, and the dient paid the first tive months fees in advance. When the cash was recelved, the Uneamed Extension Fees account was credited PacRim Careers Trial Balances.ads PacRim Careers Trial Balance Dr, Trial Balance Dr. Cr. 18000 8 Accounts receivabie 9Teaching supples 0 Prepaid insurance 11 Prepaid nent 12 Professional brary 6,500 1,400 ,200 professional liary 18,000 32,000 2.500 0. 6.300 229,000 counts payable 17 Salaries payable s Unearned extension fees Karoo Athevak, capital Karoo Ashevak, withdrawah 2,000 Tuition fees earned 196,000 72,500 2 Extension fees earned 3 Depreclation expense, equipment 24 Deprecation expen professional ibrary Salaties expense nsurance expense Rent expense 44,000 28 Teaching supplies espense 29 Advertising expense tlities expense Totals 14,000 1,200 5 556 300 556,300 f. On October 15, the school agreed to teach a four-month class for an individual for $1.200 uion per montlh payable at the end of the class The services to date have been provided as agee g. The school's two employees are paid weekly h. The balance in the Prepaid Rent account sepresents the rent for no payment has been received accrued at the rate of s120 per day tfor each employee and February As of the end of the yeat, theee days wages have thiee months Decembes Janary 1. Prep Analysis Component 2. Refer to the f ane the necessary annual adjusting jounal entries at December 31, 2014, bused on a) to thi aheve. ormmat presented in Exhibit 3.22 and complete the adjusted trial balance using the information in (a) through (hi above. 3. If the adjustments were not recorded, calculate the over-or understa 4 ts it ethical to ignore adjusting ensnest