A review of the ledger of Carmel Company at December 31, 2017, produces the following data pertaining to the preparation of annual adjusting entries. Prepaid Insurance dollar11, 480. The company has separate insurance policies on its buildings and its motor vehicles. Policy B4564 on the building was purchased on April 1, 2016, for dollar8, 640. The policy has a term of 3 years. Policy A2958 on the vehicles was purchased on January 1, 2017 or dollar5,000. This policy has a term of 2 years. Unearned Rent Revenue dollar478, 800. The company began subleasing office space in its new building on November 1. At December 31, the company had the following rental contracts that are paid in full for the entire term of the lease. Notes Payable dollar128,000. This balance consists of a note for 9 months at an annual interest rate of 9percentage, dated November 1. Salaries and Wages Payable dollar0. There are 9 salaried employees. Salaries are paid every Friday for the current week. 4 employees receive a salary of dollar650 each per week, and 5 employees earn dollar550 each per week. Assume December 31 is a Tuesday. Employees do not work weekends. All employees worked the last 2 days of December. Prepare the adjusting entries at December 3 2017. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)