A review of the ledger of Sheridan Corporation at its year end, July $31,2024,$ produces the following unadjusted data for the preparation of annual adjusting entries:

$1.$ Prepaid Insurance, July $31,2024,$ unadjusted balance, $$9,120$: The company purchased an insurance policy on December $1,2022,$ with a two$-$year term, which expires November $30,2024.$

$2.$ Buildings, July $31,2024,$ unadjusted balance, $$277,200$: The company owns a building purchased on September $1,2017,$ for $$277,200,$ with an estimated $30-$year useful life. The company uses straight$-$line depreciation.

$3.$

Deferred Revenue, July $31,2024,$ unadjusted balance, $$34,000$: The selling price of a digital magazine subscription is $$60$ for $24$ monthly issues delivered over a two$-$year period. The company had sold $800$ subscriptions on January $1,2023,$ during a special promotion.

$4.$ Salaries Payable, July $31,2024,$ unadjusted balance, $$0$: There are nine salaried employees. Salaries are paid every Monday for the previous five$-$day workweek $($Monday to Friday$).6$ employees receive a salary of $$590$ each per week, and $3$ employees earn $$800$ each per week. July $31$ is a Wednesday.