The December 31, 2024, unadjusted trial balance for Demon Deacons Corporation is presented below. Accounts Debit Credit Cash $8,400 Accounts Receivable 13,400 Prepaid Rent 5,280 Supplies, 2,400 Deferred Revenue $1,400 Common Stock 11,000 Retained Earnings 4,400 Service Revenue 39,680 Salaries Expense 27,000 $56,480 $56,480 At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $5,280, represents payment on October 31, 2024, for rent from November 1, 2024, to April 30, 2025. 2. The balance of Deferred Revenue, $1,400, represents payment in advance from a customer. By the end of the year, $350 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, 2025. 4. The balance of Supplies, $2,400, represents the amount of office supplies on hand at the beginning of the year of $900 plus an additional $1,500 purchased throughout 2024. By the end of 2024, only $640 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. Journal entry worksheet 2 3 4 The balance of Prepaid Rent, $5,280, represents payment on October 31, 2024, for rer from November 1, 2024, to April 30, 2025. Record the adjusting entry on December 31. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry Required 1 View general journal Required 2 > < Prev 5 of 19 Next > pptx ^ MRKT320.$23.....docx ^ MRKT320.523.....docx A MRKT320.S23.....pptx ^ 0 FIN 320 Spring...docx