Required information

[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	$	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, 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 $1,700 plus an additional $2,300 purchased throughout 2021. By the end of 2021, only $800 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 2021. (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.)

Journal entry worksheet

• Record the adjusting entry for rent on December 31.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
December 31

• Record the adjusting entry for deferred revenue on December 31.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
December 31

• Record the adjusting entry for salaries on December 31.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
December 31

• Record the adjusting entry for supplies on December 31.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
December 31

2. Prepare an adjusted trial balance as of December 31, 2021.

account	debit	credit
cash
accounts receivable
prepaid rent
supplies
deferred revenue
salaries payable
common stock
retained earnings
service revenue
salaries expense
rent expense
supplies expense
totals