Wed 9:53 PM Ch 03 Homework Help Save&Exit Submit 8 Check my GLO302- Based on Problem 3-3A Wells Technical Institute LO A1, P1, P3 Wells Technical Institute (WTIQ, a school owned by Tristana Wels, 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, is found on the trial balance tab. WTI initialily records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of tems a through h that require adjusting entries on December 31, 2017, follow points Print a. An analysis of WTIl's insurance policles shows that $2,400 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,800 are available at year-end 2017 c. Annual depreciation on the equipment is $13,200 d. Annual depreciation on the professional ibrary is $7,200 e. On November 1, WTI agreed to do a special six-month course (starting immedistely) for a client. The contract calls for a erencesb 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 wil be recorded when it is collected in 2018 f On October 15, WTI agreed to teach a four-month class (beginning immediately) for an indlvidual for $3,000 tuition per ble at the end of the class. The class started on October 15, but no payment has yet been received (WTrs month paya accruals are applied to the nearest half-month; for example, October recognizes one-half month accrualy WTI's two employees are paid weekly As of the end of the year two days saianies have accrued at the rate of $100 per day for each employee. h. The balance in the Prepaild Rent account represents rent for December Batained Balance Sheet ncome Requirement Genera Statementlance Sheet inact Ledger Tral Balance ncome St Ret Use the drop-downs to select the accounts properly included on the income statement. The unadjusted or adjusted for each account, based on your seiection 8