The Righter Shoe Store Company prepares monthly financial statements for its bank. The November 30 and December 31, 2016, trial balances contained the following account information:

	Nov. 30							Dec. 31
	Dr.			Cr.				Dr.			Cr.
Supplies		3,100							4,600
Prepaid insurance		7,600							5,300
Salaries and wages payable					18,000							16,600
Deferred rent revenue					5,200							2,600

	The following information also is known:
a.	The December income statement reported $3,600 in supplies expense.
b.	No insurance payments were recorded in December.
c.	$18,000 was paid to employees during December for salaries and wages.
d.	On November 1, 2016, a tenant paid Righter $7,800 in advance rent for the period November through January. Deferred rent revenue was credited.

Required:

1.	What was the cost of supplies purchased during December?

2.	What was the adjusting entry recorded at the end of December for prepaid insurance?

Prepare the adjusting entry recorded at the end of December for prepaid insurance.