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 Dr. Cr. 3,400 7,900 19,500 5,800 Dec. 31 Dr. Cr. 4,900 5,450 16,900 2,900 The following information also is known: a. The December income statement reported $3,900 in supplies expense. b. No insurance payments were made in December. c. $19,500 was paid to employees during December for salaries. d. On November 1, 2021, a tenant paid Righter $8,700 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 of November 30. 2. Using the above information, prepare the adjusting entries Righter recorded for the month of December. Answer is not complete. 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. Supplies 3,400 Prepaid Insurance 7,900 Beg. Bal Beg. Bal. 3,900 2,450 End. Bal 4,900 End. Bal. 5,450 Deferred Rent Revenue 5,800 Beg. Bal. Beg. Bal. Salaries Payable 19,500 19,500 16,900 2,900 End. Bal. End. Bal. 2,900 Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Using the above information, prepare the adjusting entries Righter recorded for the month of December. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Date General Journal Debit Credit 1 Dec 31, 2021 2,450 Insurance expense Prepaid insurance 2,450 2 Dec 31, 2021 16,900 Salaries expense Salaries payable 16,900 3 Dec 31, 2021 Deferred rent revenue 2,900 Rent revenue 2,900 Record the adjusting entry at the end of December for prepaid insurance. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2021 2,450 Insurance expense Prepaid insurance 2,450 Record entry Clear entry View general journal Required 1 Required 2 Using the above information, prepare the adjusting entries Righter recorded for the month of December. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 > Record the adjusting entry at the end of December for accrued salaries. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2021 16,900 Salaries expense Salaries payable 16,900 Record entry Clear entry View general journal Required 1 Required 2 Using the above information, prepare the adjusting entries Righter recorded for the month of December. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the adjusting entry at the end of December for deferred rent. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2021 Deferred rent revenue 2,900 Rent revenue 2,900 Record entry Clear entry View general journal
