The December 31, 2021. unadjusted trial balance for Demon Deacons Corporation is presented below. Credit Dobit $ 9,700 14,700 6,840 3,700 Accounts Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense $ 2,700 11,000 5,700 49,040 33,500 $68,440 $68,440 At year-end, the following additional Information is available: 1. The balance of Prepaid Rent, $6,840, represents payment on October 31, 2021, for rent from November 1, 2021, to April 30, 2022 2. The balance of Deferred Revenue, $2,700, represents payment in advance from a customer. By the end of the year, $675 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, $3,700, represents the amount of office supplies on hand at the beginning of the year of $1,550 plus an additional $2,150 purchased throughout 2021. By the end of 2021, only $770 of supplies remains. xercise 3-14A Part 1 equired: -Update account balances for the year-end information by recording any necessary adjusting entries. No prior adjustments have een 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.) View transaction fist Journal entry worksheet 2