A review of the ledger of Dempsey Company at December 31, 2014, produces these data pertaining to the preparation of annual adjusting entries.

1 Prepaid Insurance $15,200. The company has separate insurance policies on its buildings and its motor vehicles. Policy B4564 on the building was purchased on July 1, 2013, for $9,600. The policy has a term of 3 years. Policy A2958 on the vehicles was purchased on January 1, 2014, for $7,200. This policy has a term of 18 months.

2 Unearned Rent Revenue $429,000. The company began subleasing office space in its new building on November AppendixLO1