The December 31, 2024, unadjusted trial balance for Demon Deacons Corporation is presented below. Accounts Credit Cash Debit $8,500 Accounts 13,500 Receivable Prepaid Rent 5,400 Supplies 2,500 Deferred $1,500 Revenue Common Stock 10,000 Retained 4,500 Earnings Service Revenue 41,400 Salaries Expense 27,500 $57,400 $57,400 At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $5,400, represents payment on October 31, 2024, for rent from November 1, 2024, to April 30, 2025. 2. The balance of Deferred Revenue, $1,500, represents payment in advance from a customer. By the end of the year, $375 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, $2,500, represents the amount of office supplies on hand at the beginning of the year of $950 plus an additional $1,550 purchased throughout 2024. By the end of 2024, only $650 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 2024. 2. Prepare an adjusted trial balance as of December 31, 2024. Complete this question by entering your answers in the tabs below. Required Required 1 2 Update account balances for the year-end information by recording any necessary adjusting entries. No prior adjustments have been made in 2024. (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 list Journal entry worksheet < 1 2 3 4 The balance of Prepaid Rent, $5,400, represents payment on October 31, 2024, for rent from November 1, 2024, to April 30, 2025. Record the adjusting entry on December 31. Note: Enter debits before credits. Date December General Journal Debit Credit 31 > S The December 31, 2024, unadjusted trial balance for Demon Deacons Corporation is presented below. Accounts Credit Cash Debit $8,500 Accounts 13,500 Receivable Prepaid Rent 5,400 Supplies 2,500 Deferred $1,500 Revenue Common Stock 10,000 Retained 4,500 Earnings Service Revenue 41,400 Salaries Expense 27,500 $57,400 $57,400 At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $5,400, represents payment on October 31, 2024, for rent from November 1, 2024, to April 30, 2025. 2. The balance of Deferred Revenue, $1,500, represents payment in advance from a customer. By the end of the year, $375 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, $2,500, represents the amount of office supplies on hand at the beginning of the year of $950 plus an additional $1,550 purchased throughout 2024. By the end of 2024, only $650 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 2024. 2. Prepare an adjusted trial balance as of December 31, 2024. Complete this question by entering your answers in the tabs below. Required Required 1 2 Update account balances for the year-end information by recording any necessary adjusting entries. No prior adjustments have been made in 2024. (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 list Journal entry worksheet < 1 2 3 4 The balance of Deferred Revenue, $1,500, represents payment in advance from a customer. By the end of the year, $375 of the services have been provided. Record the adjusting entry on December 31. Note: Enter debits before credits. Date December General Journal Debit Credit 31 > S The December 31, 2024, unadjusted trial balance for Demon Deacons Corporation is presented below. Accounts Credit Cash Debit $8,500 Accounts 13,500 Receivable Prepaid Rent 5,400 Supplies 2,500 Deferred $1,500 Revenue Common Stock 10,000 Retained 4,500 Earnings Service Revenue 41,400 Salaries Expense 27,500 $57,400 $57,400 At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $5,400, represents payment on October 31, 2024, for rent from November 1, 2024, to April 30, 2025. 2. The balance of Deferred Revenue, $1,500, represents payment in advance from a customer. By the end of the year, $375 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, $2,500, represents the amount of office supplies on hand at the beginning of the year of $950 plus an additional $1,550 purchased throughout 2024. By the end of 2024, only $650 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 2024. 2. Prepare an adjusted trial balance as of December 31, 2024. Complete this question by entering your answers in the tabs below. Required Required 1 2 Update account balances for the year-end information by recording any necessary adjusting entries. No prior adjustments have been made in 2024. (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 list Journal entry worksheet < 1 2 3 4 An additional $600 in salaries is owed to employees at the end of the year but will not be paid until January 4, 2025. Record the adjusting entry on December 31. Note: Enter debits before credits. Date December General Journal Debit Credit 31 > S 1. The balance of Prepaid Rent, $5,400, represents payment on October 31, 2024, for rent from November 1, 2024, to April 30, 2025. 2. The balance of Deferred Revenue, $1,500, represents payment in advance from a customer. By the end of the year, $375 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, $2,500, represents the amount of office supplies on hand at the beginning of the year of $950 plus an additional $1,550 purchased throughout 2024. By the end of 2024, only $650 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 2024. 2. Prepare an adjusted trial balance as of December 31, 2024. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Update account balances for the year-end information by recording any necessary adjusting entries. No prior adjustments have been made in 2024. (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 list Journal entry worksheet < 1 2 3 The balance of Supplies, $2,500, represents the amount of office supplies on hand at the beginning of the year of $950 plus an additional $1,550 purchased throughout 2024. By the end of 2024, only $650 of supplies remains. Record the adjusting entry on December 31. Note: Enter debits before credits. Date December 31 General Journal Debit Credit 1. The balance of Prepaid Rent, $5,400, represents payment on October 31, 2024, for rent from November 1, 2024, to April 30, 2025. 2. The balance of Deferred Revenue, $1,500, represents payment in advance from a customer. By the end of the year, $375 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, $2,500, represents the amount of office supplies on hand at the beginning of the year of $950 plus an additional $1,550 purchased throughout 2024. By the end of 2024, only $650 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 2024. 2. Prepare an adjusted trial balance as of December 31, 2024. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an adjusted trial balance as of December 31, 2024. DEMON DEACONS CORPORATION Adjusted Trial Balance December 31, 2024 Accounts 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 $ 0 $ 0 < Required 1 Required 2 >