A review of the ledger of Blossom Company at December 31, 2022, produces the following data pertaining to the preparation of annual adjusting entries. 1. Prepaid Insurance $10,680. The company has separate insurance policies on its buildings and its motor vehicles. Policy B4564 on the building was purchased on April 1, 2021, for $8,640. The policy has a term of 3 years. Policy A2958 on the vehicles was purchased on January 1, 2022, for $4,200. This policy has a term of 2 years: 2. Unearned Rent Revenue $345,600. The company began subleasing office space in its new building on November 1, 2022. At December 31, the company had the following rental contracts that are paid in full for the entire term of the lease. Date Term (in months) Monthly Rent Number of Leases Nov. 1 9 Dec. 1 $5.400 $8,400 4 3 Notes Payable $130,000. This balance consists of a note for 9 months at an annual interest rate of 9%, dated November 1 Interest will be paid at note maturity, 4 Salaries and Wages Payable 50. There are nine salaried employees. Salaries are paid every Friday for the current week. Five