T. Nguyen (Withdrawals), a school owned by Than Nguyen, provides training to individuals who pay tuition directly to the sche Withdrawals also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, 2018, is found balance tab. Withdrawals initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions through h that require adjusting entries on December 31 follow. a. An analysis of Withdrawals's insurance policies shows that $2,950 of coverage has expired. b. An inventory count shows that teaching supplies costing $3,960 are available at year-end. c. Annual depreciation on the equipment is $4,200. d. Annual depreciation on the professional library is $7,800. e. On November 1, Withdrawals agreed to do a special six-month course (starting immediately) for a client. The contract calls fo monthly fee of $3,200, and the client paid the first five months' fees in advance. When the cash was received, the Unearnec Training Fees account was credited. f. On October 15, withdrawals agreed to teach a four-month class (beginning immediately) for an executive with payment due end of the class. At December 31, $3,200 of the tuition has been earned by Withdrawals. g. Withdrawals's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $180 for each employee. h. The balance in the Prepaid Rent account represents rent for December es Requirement General General Income Trial Balance St Retained Journal Ledger Impact on Statement Balance Sheet Earnings income For transactions a-n, review the unadjusted balance and prepare the adjusting entry necessary to correctly report the revenu. earned or the expense incurred. Each adjustment is posted automatically to the general ledger and trial balance as soon as you cl "record entry" View transaction list Journal entry worksheet