Exercise 2-15 (Algo) Cash versus accrual accounting; adjusting entries [LO2-5, 2-6, 2-9] The Righter Shoe Store Company prepares monthly financial statements for its bank. The November 30 and December 31, 2024, trial balances contained the following account information: Supplies Prepaid insurance Salaries payable Deferred rent revenue November 30 Debit Credit 3,000 7,500 December 31 Debit Credit 4,500 5,250. 17,500 5,000 16,500 2,500 The following information also is known: a. The December income statement reported $3,500 in supplies expense. b. No insurance payments were made in December. c. $17,500 was paid to employees during December for salaries. d. On November 1, 2024, a tenant paid Righter $7,500 in advance rent for the period November through January. Deferred rent revenue was credited at the time cash was received. Required: 1. Using the above information for December, complete the T-accounts below. The beginning balances should be the balances as of November 30. 2. Using the above information, prepare the adjusting entries Righter recorded for the month of December. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Using the above information for December, complete the T-accounts below. The beginning balances should be the balances as of November 30. C