Problem 4-5A Your answer is partially correct. Try again. A review of the ledger of Crane Company at December 31, 2017, produces these data pertaining to the preparation of annual adjusting entries 1. Prepaid Insurance $20,275. The separate insurance e company has separate insurance policies on its buildings and its motor vehicles. Policy 84564 on the building was purchased on July 1, 2016, for $12,450The policy has a term of 3 years. Policy A2958 on the vehicles was purchased on January 1, 2017, for $9,900. This policy has a term or 18 moths 2. Unearned Rent Revenue $536,280. The company began subleasing office space in its new building on November 1. At December 31, the company had the following rental that are paid in full for the entire term of the lease. Term Number of te (in months) Monthly Rent Leases 5,120 $8,380 Nov. 1 Dec. 1 3. Notes Payable $41,600. This balance consists of a note for 6 months at an annual interest rate of 7%, dated October 1 4. Salaries and Wages Payable so. There are 8 salaried employees. Salaries are paid every Friday for the current week. 5 employees receive a salary of $615 each per week, and 3 earn $760 each per week. Assume December 31 is a Wednesday. Employees do not work weekends. All employees worked the last 3 days of amounts. Credit account titles are Entry" tor Prepare the adjusting entries at December 31, 2017. (f no entry is automatically indented when the amount is entered. Do not indent manually.) uired, select "No Entry" for the account titles and enter 0 for the DebitCredit . Account Titles and Explanation 1. nsurance Expense Prepaid 1nsurance