1. Prepare the necessary adjusting journal entries for items a through h. Assume that adjusting entries are made only at yea Answer is complete but not entirely correct. No Transaction General Journal 1 a. Insurance expense Prepaid insurance 2 b. 3 C. Teaching supplies expense Teaching supplies Depreciation expense-Equipment 00 Debit Credit 3,600 3.600 3,120 x 3,120 x 14.400 Accumulated depreciation-Equipment 4 d. Depreciation expense-Professional library 7,200 Accumulated depreciation Professional library 5 e Unearned revenue Training revenue 6 Accounts receivable Tuition revenue S O 14,400 7,200 2,200 2,200 x 12,200 12,200 400 7 9. Salaries expense Salaries payable 8 h. Rent expense Prepaid rent 400 2,073 2,073