Exercise 3-14 (Static) Prepare an adjusted trial balance (LO3-3, 3-4) The December 31, 2024, unadjusted trial balance for Demon Deacons Corporation is presented below. Accounts Debit Credit Cash $10,000 Accounts Receivable 15,000 Prepaid Rent 7,200 Supplies 4,000 Deferred Revenue $3,000 Common Stock 11,000 Retained Earnings 6,000 Service Revenue 51,200. Salaries Expense 35,000 $71,200 $71,200 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. 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.) No 1 Date December 31 General Journal Rent Expense Prepaid Rent 2 December 31 Deferred Revenue Service Revenue 3 December 31 Salanes Expense Salaries Payable 4 December 31 Supplies Expense Supplies Required Required 2 > 30 Debit Credit 700 700 3,200 3,200 DEMON DEACONS CORPORATION Adjusted Trial Balance December 31, 2024 Accounts Debit Credit Cash $ 10,000 Accounts Receivable 15,000 Prepaid Rent Supplies Deferred Revenue Salaries Payable Common Stock Retained Earnings Service Revenue Salaries Expense 700 11,000 6,000 Rent Expense Supplies Expense 3,200 Totals $ 28,200 $ 17.700