At year-end, the following additional information is available: The balance of Prepaid Rent, $5,040, represents payment on October 31, 2024, for rent from November 1, 2024, to April 30, 2025. The balance of Deferred Revenue, $1,200, represents payment in advance from a customer. By the end of the year, $300 of the services have been provided. An additional $600 in salaries is owed to employees at the end of the year but will not be paid until January 4, 2025. The balance of Supplies, $2,200, represents the amount of office supplies on hand at the beginning of the year of $800 plus an additional $1,400 purchased throughout 2024. By the end of 2024, only $620

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.