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, 2021, trial balances contained the following account information: Supplies Prepaid insurance Salaries payable Deferred rent revenue Nov. 30 Dec. 31 Dr. 3,300 7,800 Cr. Dr. Cr. 4,800 5,400 19,000 5,600 16,800 2,800 The following information also is known: a. The December income statement reported $3,800 in supplies expense. b. No insurance payments were made in December. c. $19,000 was paid to employees during December for salaries. d. On November 1, 2021, a tenant paid Righter $8,400 in advance rent for the period November through January. Deferred rent revenue was credited. 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.