Wells Technical Institute (WTI), a school owned by Tristana Wells, provides tralning to Individuals who pay tultion directly to the school. WTI also offers tralning to groups In off-site locations. Its unadjusted trial balance as of December 31, 2017, follows. WTI Initially records prepald expenses and unearned revenues In balance sheet accounts. Descriptions of items a through h that require adjusting entries on December 31, 2017, follow. Additlonal Informatlon Items a. An analysis of wTl's Insurance policies shows that $3.335 of coverage has expired. b. An Inventory count shows that teaching suppliles costing $2,891 are avallable at year-end 2017 c. Annual depreclation on the equipment is $13,342 d. Annual depreclation on the professlonal library Is $6,671. e. On November 1, WTI agreed to do a special six-month course (starting Immedlately) for a client. The contract calls for a monthly fee of $2,400, and the client pald the first five months' fees In advance. When the cash was recelved, the Unearned Tralning Fees account was credited. The fee for the sixth month will 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 $4,161 tultion 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.) g. WTI's two employees are pald weekly. As of the end of the year, two days' salarles have accrued at the rate of $100 per day for each employee h. The balance In the Prepald Rent account represents rent for December WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31, 2817 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 training fees Common stock Retained earnings Dividends Tuition fees earned Training fees earned Depreciation expense-Professional library Depreciation expense-Equipment Salaries expense Insurance expense Rent expense Teaching supplies expense Advertising expense Utilities expense Totals $ 26,944 18, 362 15,545 2,873 31,888 $ 9,328 72,533 16,582 36, 782 12,88e 12,88e 53,988 41,452 185,781 39,379 49,743 22,883 7,254 5, 803 $ 285,68 285,686