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

1. An analysis of WTI's insurance policies shows that $2,400 of coverage has expired.
2. An inventory count shows that teaching supplies costing $2,800 are available at year-end.
3. Annual depreciation on the equipment is $13,200.
4. Annual depreciation on the professional library is $7,200.
5. 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.
6. 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, $7,500 of the tuition has been earned by WTI.
7. 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.
8. The balance in the Prepaid Rent account represents rent for December.

WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31
	Debit					Credit
Cash		$	34,000
Accounts receivable			0
Teaching supplies			8,000
Prepaid insurance			12,000
Prepaid rent			3,000
Professional library			35,000
Accumulated depreciationProfessional library							$	10,000
Equipment			80,000
Accumulated depreciationEquipment								15,000
Accounts payable								26,000
Salaries payable								0
Unearned training fees								12,500
T. Wells, Capital								90,000
T. Wells, Withdrawals			50,000
Tuition fees earned								123,900
Training fees earned								40,000
Depreciation expenseProfessional library			0
Depreciation expenseEquipment			0
Salaries expense			50,000
Insurance expense			0
Rent expense			33,000
Teaching supplies expense			0
Advertising expense			6,000
Utilities expense			6,400
Totals		$	317,400				$	317,400

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