Wells Technical Institute $($WTI$)$ 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 ItemsAn analysis of WTI's insurance policies shows that $$3,203$ of coverage has expired.An inventory count shows that teaching supplies costing $$2,776$ are available at year$-$end.Annual depreciation on the equipment is $$12,814.$Annual depreciation on the professional library is $$6,407.$On September $1,$ WTI agreed to do five training courses for a client for $$2,400$ each. Two courses will start immediately and finish before the end of the year. Three courses will not begin until next year. The client paid $$12,000$ 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 $31,$ $$9,750$ of the tuition revenue has been earned by WTI.WTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $$100$ per day for each employee.The balance in the Prepaid Rent account represents rent for December.Wells Technical Institute $($WTI$)$ 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 ItemsAn analysis of WTI's insurance policies shows that $$3,203$ of coverage has expired.An inventory count shows that teaching supplies costing $$2,776$ are available at year$-$end.Annual depreciation on the equipment is $$12,814.$Annual depreciation on the professional library is $$6,407.$On September $1,$ WTI agreed to do five training courses for a client for $$2,400$ each. Two courses will start immediately and finish before the end of the year. Three courses will not begin until next year. The client paid $$12,000$ 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 $31,$ $$9,750$ of the tuition revenue has been earned by WTI.WTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $$100$ per day for each employee.The balance in the Prepaid Rent account represents rent for December.