Prepare an adjusted trial balance (LO3-3, 3-4) [The following information applies to the questions displayed below.] The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented below. Accounts Debit Credit Cash $ 10,000 Accounts Receivable 15,000 Prepaid Rent 7,200 Supplies 4,000 Deferred Revenue $ 3,000 Common Stock 11,000 Retained Earnings 6,000 Service Revenue 51,200 Salaries Expense 35,000 $ 71,200 $ 71,200 At year-end, the following additional information is available:. 1. The balance of Prepaid Rent, $7,200, represents payment on October 31, 2021, for rent from November 1, 2021, to April 30, 2022. 2. The balance of Deferred Revenue, $3,000, represents payment in advance from a customer. By the end of the year, $750 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, 2022. 4. The balance of Supplies, $4,000, represents the amount of office supplies on hand at the beginning of the year of $1,700 plus an additional $2,300 purchased throughout 2021. By the end of 2021, only $800 of supplies remains

1. December 31

Dr Rent expense2,400

Cr Prepaid rent $2,400

2. Dr Deferred revenue$750

Service revenue $750

3. December 31

Dr Salaries expense$700

Cr Salaries payable $700

4. December 31

Dr Supplies expense$3,200

Cr Supplies $3,200

Explanation:

Preparation of Journal entries

1. Since Rent expense for 6 months is the

amount of $7,200 this means that the Rent expense for 2 months which is November and December will be calculated as 7,200 x 2/6

= $2,400 and recorded as :

December 31

Dr Rent expense2,400

Cr Prepaid rent $2,400

( To record rent expense)

2. Based on the information given we were told that by year end the amount of $750 of the services have been provided which means that the Journal entry will be.

December 31

Dr Deferred revenue$750

Service revenue $750

( To record service revenue)

3. Based on the information given we were told that the an additional amount of $700 in salaries is owed to employees but will not be paid until January 4 which means that the Journal entry will be :

December 31

Dr Salaries expense$700

Cr Salaries payable $700

( To record salaries expense)

4. Since Supplies expense which is calculated as Beginning supplies 1,700+ Supplies purchases 2,300- Ending supplies 800 will gives us $3,200 the Journal entry for supplies will be recorded as :

December 31

Dr Supplies expense$3,200

Cr Supplies $3,200

( 1,700+2,300-800)

( To record supplies expense)

answer: tell me how

explanation: