Question

Sanchez Technical Institute (STI), a school owned by Carlos Sanchez, provides training to individuals who pay tuition directly to the school. STI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, 2018, is found on the trial balance tab. STI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through h that require adjusting entries on December 31 follow.

1. An analysis of STI’s insurance policies shows that $2,700 of coverage has expired.
2. An inventory count shows that teaching supplies costing $3,480 are available at year-end.
3. Annual depreciation on the equipment is $5,000.
4. Annual depreciation on the professional library is $9,400.
5. On November 1, STI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $2,800, and the client paid the first five months’ fees in advance. When the cash was received, the Unearned Training Fees account was credited.
6. On October 15, STI agreed to teach a four-month class (beginning immediately) for an executive with payment due at the end of the class. At December 31, $9,000 of the tuition has been earned by STI.
7. STI’s two employees are paid weekly. As of the end of the year, two days’ salaries have accrued at the rate of $240 per day for each employee.
8. The balance in the Prepaid Rent account represents rent for December.

Answer 1

No	General Journal	Debit	Credit
a	Insurance expense	2,700
	Prepaid insurance		2,700
b	Teaching supplies expense (Supplies - 3,480)	= Amt
	Teaching supplies		= Amt
c	Depreciation expense	5,000
	Accumulated depreciation-equipment		5,000
d	Depreciation expense	9,400
	Accumulated depreciation-professional library		9,400
e	Unearned training fees (2800 * 2)	5600
	Training fees earned		5600
f	Account receivable	9000
	Tuition fees earned		9000
g	Salaries expense (240*2*2)	960
	Salaries payable		960
h	Rent expense	TB Amt
	Prepaid rent		TB Amt

Please provide the trial balance and I'll update the two entries. Though I've mentioned how to calculate them. I just Prepaid Rent Balance and Teaching Supplies Balance. Both will be available on debit side.