A review of the ledger of Sheffield Corporation at its year end, July 31, 2021, produces the following unadjusted data for the preparation of annual adjusting entries: 1. Prepaid Insurance, July 31, 2021, unadjusted balance, $9,440: The company purchased an insurance policy on December 1, 2019, with a two-year term, which expires November 30, 2021. 2. 3. 4. Buildings, July 31, 2021, unadjusted balance, $275,400: The company owns a building purchased on September 1, 2017, for $275,400, with an estimated 30-year useful life. The company uses straight-line depreciation. Deferred Revenue, July 31, 2021, unadjusted balance, $42,500: The selling price of a digital magazine subscription is $60 for 24 monthly issues delivered over a two-year period. The company had sold 1,000 subscriptions on January 1, 2020, during a special promotion. Salaries Payable, July 31, 2021, unadjusted balance, $0: There are 9 salaried employees. Salaries are paid every Monday for the previous five-day workweek (Monday to Friday). 7 employees receive a salary of $560 each per week, and 2 employees earn $680 each per week. July 31 is a Saturday.