The December 31, 2024, unadjusted trial balance for Demon Deacons Corporation is presented below. Accounts Cash Debit $8,100 Credit Accounts Receivable 13,100 Prepaid Rent 4,920 Supplies 2,100 Deferred Revenue $1,100 Common Stock 11,000 Retained Earnings 4,100 Service Revenue 37,520 Salaries Expense 25,500 $53,720 $53,720 At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $4,920, represents payment on October 31, 2024, for rent from November 1, 2024, to April 30, 2025. 2. The balance of Deferred Revenue, $1,100, represents payment in advance from a customer. By the end of the year, $275 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, $2,100, represents the amount of office supplies on hand at the beginning of the year of $750 plus an additional $1,350 purchased throughout 2024. By the end of 2024, only $610 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.