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The December 31, 2024, unadjusted account balances for Demon Deacons Corporation are presented below. At year-end, the following additional items are available: 1. The balance
The December 31, 2024, unadjusted account balances for Demon Deacons Corporation are presented below. At year-end, the following additional items are available: 1. The balance of Prepaid Rent, $5,760, represents payment on October 31,2024 , for rent from November 1,2024 , to April 30 , 2025. 2. The balance of Deferred Revenue, $1,800, represents payment in advance from a customer. By the end of the year, $450 of the services have been provided. 3. An additional $600 in salaries is owed to employees at the end of the year but will not be paid until January 4 , 2025. 4. The balance of Supplies, $2,800, consists of $1,100 of office supplies on hand at the beginning of the year plus an additional $1,700 purchased throughout 2024 . By the end of 2024 , only $680 of supplies remains
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