A review of the ledger of Cullumber Company at December 31,2022 , produces the following data pertaining to the preparation of annual adjusting entries. 1. Prepaid Insurance $12,160. The company has separate insurance policies on its buildings and its motor on the building was purchased on July 1, 2021, for \$7,680. The policy has a term of 3 years. Policy A2958 on the vehicles was purchased on January 1,2022 , for $5,760. This policy has a term of 2 years. 2. Unearned Rent Revenue $343,200. 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. 3. Notes Payable $32,000. This balance consists of a note for 6 months at an annual interest rate 9%, dated November 1 . Interest will be paid at note maturity. 4. Salaries and Wages Payable $0. There are 8 salaried employees. Salaries are paid every Monday for the current week. 5 employees receive a salary of $480 each per week, and 3 employees earn $560 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 31, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)