Question 1- The company has 15 employees, who earn a total of $2,550 in salaries each working day. They are paid each Monday for their work in the five-day workweek ending on the previous Friday. Assume that December 31 is a Tuesday, and all 15 employees worked the first two days of that week. Because New Years Day is a paid holiday, they will be paid salaries for five full days on Monday, January 6 of next year.

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Question 2- On November 1, the company rented space to another tenant for $2,627 per month. The tenant paid five months' rent in advance on that date. The payment was recorded with a credit to the Unearned Revenue account. Assume no other adjusting entries are made during the year.

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