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: Nov. 30 Dec. 31 Dr. Cr. Dr. Cr. Supplies 2,900 4,400 Prepaid insurance 7,400 5,200 Salaries payable 17,000 16,400 Deferred rent revenue 4,800 2,400 The following information also is known: The December income statement reported $3,400 in supplies expense. No insurance payments were made in December. $17,000 was paid to employees during December for salaries. On November 1, 2021, a tenant paid Righter $7,200 in advance rent for the period November through January. Deferred rent revenue was credited.
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The Righter Shoe Store Company prepares monthly financial statements for its bank. The November 30 a...
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