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 tultion directly to the school. WTI also offers tralning to groups in off-site locations. WTI Inltlally records prepald expenses and unearned revenues in balance sheet accounts. Its unadjusted trlal balance as of December 31 follows, along with descriptions of Items a through h that require adjusting entrles on December 31. Additional Information Items a. An analysis of WTI's Insurance policles shows that $2,807 of coverage has explred. b. An Inventory count shows that teaching supplies costing $2,433 are avallable at year-end. c. Annual depreclation on the equipment Is $11,227. d. Annual depreclation on the professional library is $5,614. e. On September 1,WTI agreed to do five tralning courses for a client for $2,700 each. Two courses will start Immedlately and finish before the end of the year. Three courses will not begin untll next year. The client pald $13,500 cash In advance for all five tralning courses on September 1 , and WTI credited Unearned Revenue. f. On October 15, WTI agreed to teach a four-month class (beginning Immedlately) for an executlve with payment due at the end of the class. At December 31,$7,048 of the tultion revenue has been earned by WTI. g. WTI's two employees are pald weekly. As of the end of the year, two days' salarles have accrued at the rate of $100 per day for each employee. h. The balance In the Prepald Rent account represents rent for December. equired: Prepare the necessary adjusting journal entrles for Items a through h. Assume that adjusting entrles are made only at year-end. Journal entry worksheet 345678 Note: Enter debits before credits