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 $$3,600$ of coverage has expired.

An inventory count shows that teaching supplies costing $$3,120$ are available at year$-$end.

Annual depreciation on the equipment is $$14,400.$

Annual depreciation on the professional library is $$7,200.$

On September $1,$ WTI agreed to do five training courses for a client for $$2,800$ each. Two courses will start immediately and finish before the end of the year. Three courses will not begin until next year. The client paid $$14,000$ 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 $31,$ $$10,700$ 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.

WELLS TECHNICAL INSTITUTE

Unadjusted Trial Balance

December $31$

Debit Credit

Cash $ $28,151$

Accounts receivable $0$

Teaching supplies $10,826$

Prepaid insurance $16,242$

Prepaid rent $2,166$

Professional library $32,481$

Accumulated depreciation$$Professional library $ $9,746$

Equipment $102,000$

Accumulated depreciation$$Equipment $17,325$

Accounts payable $22,000$

Salaries payable $0$

Unearned revenue $14,000$

T$.$ Wells, Capital $109,964$

T$.$ Wells, Withdrawals $43,310$

Tuition revenue $110,438$

Training revenue $41,143$

Depreciation expense$$Professional library $0$

Depreciation expense$$Equipment $0$

Salaries expense $51,972$

Insurance expense $0$

Rent expense $23,826$

Teaching supplies expense $0$

Advertising expense $7,579$

Utilities expense $6,063$

Totals $ $324,616$ $ $324,616$Prepare an adjusted trial balance.

WELLS TECHNICAL INSTITUTE

Adjusted Trial Balance

$\backslash$table$[[$December $31,$Debit,Credit$],[$Cash$,,],[$Accounts receivable,,$],[$Teaching supplies,,$],[$Prepaid insurance,,$],[$Prepaid rent,,$],[$Professional library,,$],[$Accumulated depreciation$-$Professional library,,$],[$Equipment$,,],[$Accumulated depreciation$-$Equipment,,$],[$Accounts payable,,$],[$Salaries payable,,$],[$Unearned revenue,,$],[$T$.$ Wells, Capital,,$],[$T$.$ Wells, Withdrawals,,$],[$Tuition revenue,,$],[$Training revenue,,$],[$Depreciation expense$-$Professional library,,$],[$Depreciation expense$-$Equipment,,$],[$Salaries expense,,$],[$Insurance expense,,$],[$Rent expense,,$],[$Teaching supplies expense,,$],[$Totals$,,]]$

$2-$b$.$ Prepare an adjusted trial balance.