The December 31, 2024, unadjusted trial balance for Demon Deacons Corporation is presented below.

At year-end, the following additional information is available:
1. The balance of Prepaid Rent, $7,200, represents payment on October 31, 2024, for rent from November 1, 2024, to April 30, 2025.
2. The balance of Deferred Revenue, $3,000, represents payment in advance from a customer. By the end of the year, $750 of the services have been provided.
3. An additional $700 in salaries is owed to employees at the end of the year but will not be paid until January 4, 2025.
4. The balance of Supplies, $4,000, represents the amount of office supplies on hand at the beginning of the year of $1,700 plus an additional $2,300 purchased throughout 2024. By the end of 2024, only $800 of supplies remains.

Required:
1. Update account balances for the year-end information by recording any necessary adjusting entries. No prior adjustments have been made in 2024.
2. Prepare an adjusted trial balance as of December 31, 2024.

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Accounts Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense Debit $10,000 15,000 7,200 4,000 35,000 $71,200 Credit $ 3,000 11,000 6,000 51,200 $71,200