(Solved): The December 31, 2024, unadjusted trial balance for Demon Deacons Corporation is presented below. A ...

The December 31, 2024, unadjusted trial balance for Demon Deacons Corporation is presented below. At year-end, the following additional information is avaliable: 1. The balance of Prepaid Rent, \$6,720, represents payment on October 31, 2024, for rent from November 1, 2024, to April 30, 2025. 2. The balance of Deferred Revenue, \( \$ 2.600 \), represents payment in advance from a customec. By the end of the year, \( \$ 650 \) 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, \( \$ 3,600 \), represents the amount of office supplies on hand at the beginning of the year of \( \$ 1500 \) plus an additional \( \$ 2,100 \) purchased throughout 2024, By the end of 2024, only \( \$ 760 \) 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 \( 31,2024 . \) 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 The balance of Prepaid Rent, \( \$ 6,720 \), 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. Journal entry worksheet The balance of Deferred Revenue, \( \$ 2,600 \), represents payment in advance from a customer. By the end of the year, \( \$ 650 \) of the services have been provided. Record the adjusting entry on December \( 31 . \) Note: Enter debits before credits. Journal entry worksheet 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. Journal entry worksheet The balance of Supplies, \( \$ 3,600 \), represents the amount of office supplies on hand at the beginning of the year of \( \$ 1,500 \) plus an additional \( \$ 2,100 \) purchased throughout 2024. By the end of 2024 , only \( \$ 760 \) of supplies remains. Record the adjusting entry on December 31 . Note: Enter debits before credits.