Required information Exercise 3-14A Calculate ending balances (LO3-3, 3-4) [The following information applies to the questions displayed below.] The December 31, 2021, unadjusted balances for Demon Deacons Corporation are presented below. Cash Accounts Accounts Receivable Balance $ 8,900 13,900 Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense 5,880 2,900 1,900 12,000 4,900 42,280 29,500 At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $5,880, represents payment on October 31, 2021, for rent from November 1, 2021, to April 30, 2022. 2. The balance of Deferred Revenue, $1,900, represents payment in advance from a customer. By the end of the year, $475 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, 2022. 4. The balance of Supplies, $2,900, represents the amount of office supplies on hand at the beginning of the year of $1,150 plus an additional $1,750 purchased throughout 2021. By the end of 2021, only $690 of supplies remains. Exercise 3-14A Determine ending balances Calculate the ending balances for each account, after making the necessary adjustments. DEMON DEACONS CORPORATION December 31, 2021 $ 8,900 13,900 Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Salaries Payable Common Stock 12,000 Retained Earnings 4,900 Service Revenue Salaries Expense Rent Expense Supplies Expense