Problem 3-3A Preparing adjusting entries, adjusted trial balance, and financlal statements LO P1, P2, P3, P4,P5,P6 [The following information applies to the questions displayed below]] Wells Technical Institute (WTi), a school owned by Tristana Welts, provides training to incividuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Its unadjusted trial balance as of December 31 follows along with descriptions of items a through h that require adjusting entries on December 31. Additional Information Items a. An analysis of WTT's insurance policies shows that $3,071 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,662 are available at year-end. c. Annual depreciation on the equipment is $12,285. d. Annual depreciation on the professional library is $6,142 e. On September 1, WTI agreed to do five courses for a client for $2,500 each. Two courses will start immediately and finish before the end of the year. Three courses will not begin until next year. The client paid $12,500 cash in advance for all five courses on September 1, and WTI credited Unearned Training Fees. 4. 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,$8,850 of the tuition has been eamed by WTI. 9. Wri's two employees are paid weekly. As of the end of the year, two days' salaries have accrued ot the rate of $100 per day for each employee. h. The balance in the Prepoid Rent account represents rent for December. 2-a. Post the balance from the unadjusted trial balance and the adjusting entries in to the T-accounts. 2-b. Prepare an adjusted trial balance. Complete this question by entering your answers in the tabs below. Post the balance from the unadjusted trial balance and the adjusting entries in to the T-accounts