A review of the ledger of Remina Company at December 31, 2022, produces the following data pertaining to the preparation of annual adjusting entries.
1. Prepaid Insurance $10,340. The company has separate insurance policies on its buildings and its motor vehicles. Policy B45 on the building was purchased on April 1, 2021, for $7,920. The policy has a term of 3 years. Policy A29 on the vehicles was purchased on January 1, 2022, for $4,400. This policy has a term of 2 years.
2. Supplies $50,000. The company performs a count of supplies on December 31. This count revealed that $23,000 of supplies were on hand.
3. Salaries and Wages Payable $0. There are eight employees. Wages are paid every Friday for the current week. Five employees receive a wage of $700 each per week, and three employees earn $500 each per week. Assume December 31 is a Tuesday. Employees do not work weekends. All employees worked the last 2 days of December.

Instructions
Prepare the adjusting entries at December 31, 2022.