At year-end, the following additional information is available:

1. The balance of Prepaid Rent, $5,760, represents payment on October 31, 2024, for rent from November 1, 2024, to April 30, 2025.
2. The balance of Deferred Revenue, $1,800, represents payment in advance from a customer. By the end of the year, $450 of the services have been provided.
3. An additional $600 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, $2,800, represents the amount of office supplies on hand at the beginning of the year of $1,100 plus an additional $1,700 purchased throughout 2024. By the end of 2024, only $680 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.

Required #1:

Update account balances for the year-end information by recording any necessary adjusting entries. No prior adjustments have been made in 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.)

Journal entry worksheet The balance of Deferred Revenue, $1,800, represents payment in advance from a customer. By the end of the year, $450 of the services have been provided. Record the adjusting entry on December 31. Note: Enter debits before credits. The December 31, 2024, unadjusted trial balance for Demon Deacons Corporation is presented below. \begin{tabular}{lrr} \multicolumn{1}{c}{ Accounts } & Debit & Credit \\ \hline Cash & $8,800 & \\ Accounts Receivable & 13,800 & \\ Prepaid Rent & 5,760 & \\ Supplies & 2,800 & \\ Deferred Revenue & & $1,800 \\ Common Stock & & 10,000 \\ Retained Earnings & & 4,800 \\ Service Revenue & & 43,560 \\ Salaries Expense & 29,000 & \\ & & \\ \cline { 2 - 3 } & $60,160 & $60,160 \\ \hline \end{tabular} Journal entry worksheet The balance of Supplies, $2,800, represents the amount of office supplies on hand at the beginning of the year of $1,100 plus an additional $1,700 purchased throughout 2024. By the end of 2024, only $680 of supplies remains. Record the adjusting entry on December 31 . Note: Enter debits before credits. Journal entry worksheet An additional $600 in salaries is owed to employees at the end of the year but will not be paid until January 4, 2025. Record the adjusting entry on December 31. Note: Enter debits before credits. Journal entry worksheet The balance of Prepaid Rent, $5,760, represents payment on October 31 , 2024, for rent from November 1, 2024, to April 30, 2025. Record the adjusting entry on December 31. Note: Enter debits before credits. Prepare an adjusted trial balance as of December 31, 2024. \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ DEMON DEACONS CORPORATION } \\ \hline \multicolumn{2}{|c|}{ Adjusted Trial Balance } \\ \hline \multicolumn{1}{|c|}{ Accounts } & Debit & \multicolumn{1}{c|}{ Credit } \\ \hline Cash & & \\ \hline Accounts Receivable & & \\ \hline Prepaid Rent & & \\ \hline Supplies & & \\ \hline Deferred Revenue & & \\ \hline Salaries Payable & & \\ \hline Common Stock & & \\ \hline Retained Earnings & & \\ \hline Service Revenue & & \\ \hline Salaries Expense & & \\ \hline Rent Expense & $ & \\ \hline Supplies Expense & & \\ \hline \multicolumn{1}{|c|}{ Totals } & & \\ \hline \end{tabular}