please do it in 30 minutes please urgently... I'll give you up thumb definitely

please do both parts please

I need the solution of first part only

Wright Technical Institute (WTI), a school owned by Kay Wright, provides training to individuals who pay tuition directly to the school. WTI 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. WTI 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. a. An analysis of WTI's insurance policies shows that $2,400 of coverage has expired. b. An inventory count shows that teaching supplies costing $3,520 are available at year-end. c. Annual depreciation on the equipment is $5,200. d. Annual depreciation on the professional library is $9,800. e. On November 1 , WTI agreed to do - special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $3,000, and the client paid the first five months' fees in advance. When the cash was received, the Unearned Training Fees account was credited. f. On October 15, WTI agreed to teach a four-month class (beginning immediately) for an executive with payment due at the end of the class. At December 31,$3,800 of the tuition has been earned by WTI. g. WTI's two employees ale paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $160 per day for each employee. h. The balance in the Prepaid Rent account represents rent for December. Answer is not complete. For transactions a-h, 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". Check my work mode : This shows what is correct or incorrect for the work you have completed so fa For each adjustment, indicate the income statement and balance sheet account affected, and the impact on net income. If an adjustment caused net income to decrease, enter the amount as a negative value. Net income before adjustments can be found on the income statement tab. (Hint: Select unadjusted on the drop-down.)