Exercise 3-14 (Algo) Prepare an adjusted trial balance (LO3-3, 3-4) The December 31, 2024, unadjusted trial balance for Demon Deacons Corporation is presented below. Accounts Cash Debit $9,500 Credit Accounts Receivable 14,500 Prepaid Rent 6,600 Supplies 3,500 Deferred Revenue $2,500 Common Stock 12,000 Retained Earnings 5,500 Service Revenue 46,600 Salaries Expense 32,500 $66,600 $66,600 At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $6,600, represents payment on October 31, 2024, for rent from November 1, 2024, to April 30, 2025. 2. The balance of Deferred Revenue, $2,500, represents payment in advance from a customer. By the end of the year, $625 of the services have been provided. 3. An additional $500 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, $3,500, represents the amount of office supplies on hand at the beginning of the year of $1,450 plus an additional $2,050 purchased throughout 2024. By the end of 2024, only $750 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2