Required information

$[$The following information applies to the questions displayed below$]$

Wells T$$chical Institute $($WTI$)$ provides training to individuals 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 athrough $h$ that require adjusting entries on December $31$

Additional Information Items

a$.$ An analysis of WTT$\text{'}$s insurance policies shows that $$3,732$ of coverage has expired.

b$.$ An inventory count shows that teaching supplies costing $$3,235$ are available at yearend.

c$.$ Annual depreciation on the equipment is $$14,929.$

d$.$ Annual depreciation on the professional library is $$7,464.$

e$.$ On September $1,$ WTI agreed to do five training courses for a client for $$2,300$ each. Two courses will start immediately and finish before the end of the year. Three courses will not begin until next year. The client paid $$11,500$ cash in advance for all five training courses on September $1,$ and WTI credited Unearned Revenue.

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,$$$12,600$ of the tuition revenue has been earned by WTI.

WTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $$100$ per day for each employee.

h$.$ The balance in the Prepaid Rent account represents rent for December.

Requlred:

Prepare the necessary adjusting journal entries for items a through $h.$ Assume that adjusting entries are made only at yearend.

Journal entry worksheet

$1$

$2$

$3$

$4$

$5$

$6$

$7$

$8$

An analysis of WTI's insurance policies shows that $$3,732$ of coverage has expired.

Note: Eiter debies belore credits:

$\backslash$table$[[$Fransaction$,$General Journal,Debit,Credit$],[$a$.,,,$:$.$