North Carolina State basketball player Chris Washburn is spending this weekend in the Wake County (N.C.) jail as part of a sentence he received in February for stealing a stereo from a dormitory room.

He entered the jail about 4 p.m. Friday, a day after the team returned from a tournament in Hawaii where he was named MVP.

He had been scheduled to spend Dec. 19-21 in jail, but a judge postponed it because of a nationally televised game against Wake Forest Dec. 19.

In addition, Washburn was fined $1,000, was required to perform 320 hours of community service and had to hold a summer job while undergoing counseling . . .

Four Georgia Tech football players, including starting quarterback John Dewberry, were suspended by Coach Bill Curry and will not play in the All American Bowl on New Year's Eve, a bowl official said.

Georgia Tech meets Michigan State in the Tuesday night game in Birmingham, Ala.

Bill Oakley, a spokesman for the bowl, said Curry announced before his team's practice at Legion Field that Dewberry, wide receivers Gary Lee and Toby Pearson and reserve fullback Charles Mack were being sent home.

"We had four players who did not come in on time for curfew last night," Curry said. "Our rule is if you don't come in on time, you don't play." . . .

Baylor's basketball team has lost seven players, according to Coach Gene Iba. "Carlos Briggs, Eric Johnson, Robert McLemore, Darryl Middleton, Edwin Mitchell, Frank Williams and Michael Williams have been declared ineligible for various reasons and for various lengths of time by the NCAA," Iba announced.

"We have requested a hearing before the subcommittee on eligibility of the NCAA council on Jan. 10 or 11, 1986. We hope this decision will be reversed or revised at that time."

Baylor (7-3) will take eight players, including walk-ons, into its game Monday in Waco against Texas-San Antonio.