The December $31,2024,$ 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:

The balance of Prepaid Rent, $$7,200,$ represents payment on October $31,2024,$ for rent from November $1,2024,$ to April $30,2025.$

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.

An additional $$700$ in salaries is owed to employees at the end of the year but will not be paid until January $4,2025.$

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 $$2,300$ purchased throughout $2024.$ By the end of $2024,$ only $$800$ 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 $2024.$