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. Its unadjusted trial balance as of December 31, 2017, follows. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through h that require adjusting entries on December 31, 2017, follow. Additional Information Items An analysis of WTI's insurance policies shows that $3,996 of coverage has expired. An inventory count shows that teaching supplies costing $3,464 are available at year-end 2017. Annual depreciation on the equipment is $15,986. Annual depreciation on the professional library is $7,993. On November 1, WTI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $2,500, and the client paid the first five months' fees in advance. When the cash was received, the Unearned Training Fees account was credited. The fee for the sixth month will be recorded when it is collected in 2018. On October 15, WTI agreed to teach a four-month class (beginning immediately) for an individual for $5,361 tuition per month payable at the end of the class. The class started on October 15, but no payment has yet been received. (WTI's accruals are applied to the nearest half-month; for example, October recognizes one-half month accrual.) 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. WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31, 2017 Debit Credit Cash $ 27,698 Accounts receivable 0 Teaching supplies 10,652 Prepaid insurance 15,981 Prepaid rent 2,132 Professional library 31,958 Accumulated depreciationProfessional library $ 9,589 Equipment 74,555 Accumulated depreciationEquipment 17,046 Accounts payable 37,568 Salaries payable 0 Unearned training fees 12,500 Common stock 12,000 Retained earnings 55,754 Dividends 42,613 Tuition fees earned 108,661 Training fees earned 40,482 Depreciation expenseProfessional library 0 Depreciation expenseEquipment 0 Salaries expense 51,136 Insurance expense 0 Rent expense 23,452 Teaching supplies expense 0 Advertising expense 7,457 Utilities expense 5,966 Totals $ 293,600 $ 293,600 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.