Wlley Support A review of the ledger of Oriole Company at December 31, 2020, produces the following data pertaining to the preparation of annual adjusting entries. Office 365 Salaries and Wages Payable $0. There are eight employees. Salaries and wages are paid every Friday for the current week. Five employees receive $710 each per week, and three employees earn $520 each per week. December 31 is a Tuesday. Employees do not work weekends. All employees worked the last 2 days of December. 1. VidGrid Recording Account Library Resources Unearned Rent Revenue $395,280. The company began subleasing office space in its new building on November 1. Each tenant is required to make a $5,200 security deposit that is not refundable until occupancy is terminated. At December 31, the company had the following rental contracts that are paid in full for the entire term of the lease. 2. Dashboard Term (in months) Monthly Rent Number of Leases Date Courses $6,160 Nov. 1 6 $6,820 Dec. 1 6 4 Calendar Prepaid Advertising $13,200. This balance consists of payments on two advertising contracts. The contracts provide for monthly advertising in two trade magazines. The terms of the contracts are as shown below. 3. Inbox Help Number of Magazine Issues Contract Date Amount $6,000 May 1 A650 12 B974 Oct. 1 7,200 24 The first advertisement runs in the month in which the contract is signed. Notes Payable $62,400. This balance consists of a note for one year at an annual interest rate of 12%, dated June 1 4. Prepare the adjusting entries at December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Round answers to 0 deci mal places, e.g. 2,520.) No. Account Titles and Explanation Debit Credit 1 ontract Date Der or Magazine Issues Dashboard May 1 $6,000 A650 12 B974 Oct. 1 7,200 24 Courses The first advertisement runs in the month in which the contract is signed. Calendar Notes Payable $62,400. This balance consists of a note for one year at an annual interest rate of 12%, dated June 1. 4. Inbox Prepare the adjusting entries at December 31, 2020. (Credit account titles are automatically indented when amount is enter entry is required, select "No entry" for the account titles and enter 0 for the amounts. Round answers to O decimal places, e.g. 2,5 Help No. Account Titles and Explanation Debit Credit 1. 2 3. 4