Required information

[The following information applies to the questions displayed below.] Wells Technical Institute (WTI), a school owned by Tristana Wells, 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 a through h that require adjusting entries on December 31. Additional Information Items * An analysis of WTI's insurance policies shows that $2,542 of coverage has expired. * An inventory count shows that teaching supplies costing $2,204 are available at year-end. * Annual depreciation on the equipment is $10,170. * Annual depreciation on the professional library is $5,085. * On September 1, WTI agreed to do five training courses for a client for $2,700 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 $13,500 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, $5,748 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. * The balance in the Prepaid Rent account represents rent for December.

Required: 1. Prepare the necessary adjusting journal entries for items a through h. Assume that adjusting entries are made only at year-end.

An analysis of WTI's insurance policies shows that $2,542 of coverage has expired. Note: Enter debits before credits. An inventory count shows that teaching supplies costing $2,204 are available at year-end. Note: Enter debits before credits. Annual depreciation on the equipment is $10,170. Note: Enter debits before credits. Annual depreciation on the professional library is $5,085. Note: Enter debits before credits. On September 1, WTI agreed to do five training courses for a client for $2,700 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 $13,500 cash in advance for all five training courses on September 1, and WTI credited Unearned Revenue. Note: Enter debits before credits. 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,$5,748 of the tuition revenue has been earned by WTI. Note: Enter debits before credits. 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. Note: Enter debits before credits. The balance in the Prepaid Rent account represents rent for December. Note: Enter debits before credits