A review of the ledgerof Baylor Company at December 31, 2014 produces the followingdate pertaining to the preparation of annual adjusting entries.

1) salaries and wages payable $0. There are eight employes. Salaries and wages are paid every Friday for current week. Five employees receive $700 each week, and three earn $600 each per week. December 31 is a Tuesday. Employeesdo not work weekends. All employees worked last 2 days of December.

2)Unerned Rent revenue$420,000. The company began subleasing office space in its new building on November 1. Each tenant is required to make a $5000 security deposit that is not refundable until occupancy is terminated. At December 31, the company had the following rental contracts paid in full for the entire term of the lease

date term (in months) monthly rent nr of leases

Nov1 6 $6,000 5

Dec1 6 $8,500 4

Prepare the adjusting entries at December 31, 2014. Show all computations please