LUI 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, tria balances contained the following account information: Supplies Prepaid insurance Salaries payable Deferred rent revenue Nov. 30 Dr. Cr. 2,400 6,900 14,500 3,800 Dec. 31 Dr. Cr. 3,900 4,950 15,900 1,900 The following information also is known: a. The December income statement reported $2,900 in supplies expense. b. No insurance payments were made in December c. $14,500 was paid to employees during December for salaries. d. On November 1, 2021, a tenant paid Righter $5,700 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 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 Odiances O 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. ook Required 1 Required 2 + ces Using the above information for December, complete the T-accounts below. The beginning balances should be the balances as of November 30. Beg. Bal Supplies 2,400 0 3,900 0 2,900 Beg. Bal Prepaid Insurance 6,900 0 0 1,950 4,950 0 End. Bal. 0 End. Bal. Beg. Bal. Salaries Payable 0 14,500 14,500 15,900 15,900 Beg. Bal. Deferred Rent Revenue 0 3,800 1,900 0 0 1,900 End. Bal. End. Bal. Required 1 Required 2 >