The December 31,2024 , unadjusted trial balance for Demon Deacons Corporation is presented below. At year-end, the following additional information is avallable: 1. The balance of Prepaid Rent, $5,880, represents payment on October 31,2024 , for rent from November 1,2024, to April 30,2025. 2. The balance of Deferred Revenue, $1,900, represents payment in advance from a customer. By the end of the year, $475 of the services have been provided. 3. An additional $500 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, $2,900, represents the amount of office supplies on hand at the beginning of the year of $1,150 plus an additional $1,750 purchased throughout 2024 . By the end of 2024 , only $690 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