rk 1 Question 27 of 29 View Policies Show Attempt History Current Attempt in Progress < > Your answer is partially correct. 1.5/4 E A review of the ledger of Kingbird, Inc. at December 31, 2022, produces the following data pertaining to the preparation of annual adjusting entries. 1. Prepaid Insurance $17.936. The company has separate insurance policies on its buildings and its motor vehicles. Policy B4564 on the building was purchased on July 1, 2021, for $11,328. The policy has a term of 3 years. Policy A2958 on the vehicles was purchased on January 1, 2022, for $8,496. This policy has a term of 2 years. 2. Unearned Rent Revenue $506,220. 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. Date Term (in months) Monthly Rent Number of Leases Nov. 1 9 $5,900 5 Dec. 1 6 $10,030