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)

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answer; ///(d); determining who competes most closely   with whom evaluating whether industry driving forces and competitive pressure favor some strategic groups and hurt others, and ascertaining whether the profit potential of different strategic groups varies due to the strengths and weaknesses in each groups respective market positions;