Exercise 3-14A Prepare an adjusted trial balance (L03-3, 3-4) [The following information applies to the questions displayed below.) The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented below. Accounts Debit Credit Cash $18,000 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, 2021, for rent from November 1 2021. to April 30, 2022 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, 2022 4 The balance of Supplies, $4,000 represents the amount of office supplies on hand at the beginning of the year of $1700 plus an additional $2,300 purchased throughout 2021. By the end of 2021, only $800 of supplies remains. 2. Prepare an adjusted trial balance as of December 31, 2021. DEMON DEACONS CORPORATION Adjusted Trial Balance December 31, 2021 Accounts Debit Credit $ 10,000 15,000 2,400 4,000 750 Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Salaries Payable Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Supplies Expense Totals $ 28,150 $ $ 4,000