Katy's Cooking School provides training to individuals who pay tuition directly to the school. Katy's also offers training to various groups in off-site locations. Starting from the trial balance prepare the adjusting entries and post them to the general ledger and then prepare an Adjusted Trail Balance and then prepare the financial Statements. Katys Cooking School Unadjusted Trail balance December 31 201X Debit Credit Cash 34,000 Accounts receivable Teaching supplies Ppd Insurance 8,000 12,000 Ppd Rent Prof Library Accum Depr Lib 3,000 35,000 10,000 Equipment Accum Drp Equip 80,000 15,000 Accounts Payable Salaries payable 26,000 Unearned tn fees 12,500 Capital 90,000 Draw 50,000 Tuition fees earmed 123,900 Training fees earned 40,000 Depr expense prof library Depr expense equipment Salary expense 50,000 Insurance expense Rent expense Teach supply expense 33,000 Advertising expense 6,000 Utilities expense Totals 6,400 317,400 317,400 1 Enter the account balances from the trail balance in the General Ledger 2 Journal the following adjusting Entries a An analysis of the insurance policies show that $2400 of coverage has expired b An inventory count shows that teaching supplies costing $2,800 are available at year-end. c Annual Depreciation on the equipment is S13,200 d Annual Depreciation on the professional library is 7200 On Nov 1 Katy agreed to do a special 6 month course starting immediately for a student. The contract calls for a monthly fee of $2500 and the student paid the first 5 months fees in advance. When the cash was received, the Unearned Training Fees account was credited. The fee for the 6th month will be recorded when it is collected next year. On October 15 Katy agreed to teach a 4 month class beginning immediately for a student for $3000 tuition per month f payable at the end of class. The class started on October 15 but no payment as yet been received. Katy's accruals are applied to the nearest half month. Katy's two employees are paid weekly. As of the end of the year, two days' salaries have acerued at B the rate of S100 per day for each employee. h The balance in the Prepaid Rent account represents rent for December.