The December 31, 2024, unadjusted trial balance for Demon Deacons Corporation is presented below. Accounts Debit Credit Cash $9,900 Accounts Receivable 14,900 Prepaid Rent 7,080 Supplies 3,900 Deferred Revenue $2,900 Common Stock 10,000 Retained Earnings 5,900 Service Revenue 51,480 Salaries Expense 34,500 $70,280 $70,280 At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $7,080, represents payment on October 31, 2024, for rent from November 1, 2024, to April 30, 2025. 2. The balance of Deferred Revenue, $2,900, represents payment in advance from a customer. By the end of the year, $725 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, $3,900, represents the amount of office supplies on hand at the beginning of the year of $1,650 plus an additional $2,250 purchased throughout 2024. By the end of 2024, only $790 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.