prepare the necessary annual journal entries at december 31,2020,based on (a) to (h) above.

Problem 3-6A Adjusting entries (annual); adjusted trial balance L04,6 PacRim Careers provides training to individuals who pay tuition directly to the business. The business also offers extension training to groups in off-site locations. Additional information available at the December 31, 2020. year end follows: a. An analysis of the company's policies shows that $1,280 of insurance coverage has expired. b. An inventory shows that teaching supplies costing $480 are on hand at the end of the year c. The estimated annual depreciation on the equipment is $8,375 d. The estimated annual depreciation on the professional library is $4,635. 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 $920, and the client paid the first five months revenue in advance. When the cash was received, the Unearned Extension Revenue account was credited, f. On October 15, the school agreed to teach a four-month class for an individual for $1.230 tuition per month payable at the end of the class. The services to date have been provided as agreed, but no payment has been received g. The school's two employees are paid weekly. As of the end of the year, three days' wages have accrued at the rate of $120 per day for each employee h. The balance in the Prepaid Rent account represents the rent for three months: December, January, and February PACRIM CAREERS Trial Balances December 31, 2028 Unad justed Trial Balance Dr Cr. $ 18,300 Adjustments Dr. Cr. Adjusted Trial Balance Dr. Cr 6,800 1,430 7,650 61,800 $ 18,540 100,500 Account Cash Accounts receivable Teaching supplies Prepaid insurance Prepaid rent Professional library Accumulated depreciation, professional library Equipment Accumulated depreciation, equipment Accounts payable Salaries payable Unearned extension revenue Karoo Ashevak, capital Karoo Ashevak, withdrawals Tuition revenue Extension revenue Depreciation expense, equipment Depreciation expense, professional library Salaries expense Insurance expense Rent expense Teaching supplies expense Advertising expense Utilities expense Totals 33,500 2,650 0 6,600 232,000 93,500 202,990 75,500 209,000 47,000 0 14,300 11,500 $571,780 $571,780 Required: 1. Prepare the necessary annual adjusting Journal entries at December 31, 2020, based on (a) to (h) above