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:

	November 30	December 31
Debit	Credit	Debit	Credit
Supplies	3,400		4,900
Prepaid insurance	7,900		5,450
Salaries payable		19,500		16,900
Deferred rent revenue		5,800		2,900

The following information also is known:

1. The December income statement reported $3,900 in supplies expense.
2. No insurance payments were made in December.
3. $19,500 was paid to employees during December for salaries.
4. On November 1, 2024, a tenant paid Righter $8,700 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.
3. 

Journal entry worksheet 1 2 3 Record the adjusting entry at the end of December for prepaid insurance. Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit >