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. Accounts Cash Accounts Receivable Balance $9,500 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 At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $6,600, represents payment on October 31, 2021, for rent from November 1, 2021, to April 30, 2022. 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, 2022. 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 2021. By the end of 2021, only $750 of supplies remains. Exercise 3-14A Determine ending balances Calculate the ending balances for each account, after making the necessary adjustments. DEMON DEACONS CORPORATION Cash Accounts Receivable December 31, 2021 9,500 14,500 Prepaid Rent Supplies Deferred Revenue Salaries Payable Common Stock 12,000 Retained Earnings 5,500 Service Revenue Salaries Expense Rent Expense Supplies Expense