Question

Required information [The following information applies to the questions displayed below.] The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented below. Credit Debit $ 9,300 14,300 6,360 3,300 Accounts Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense $ 2,300 10,000 5,300 47,160 31,500 $64,760 $ 64,760 At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $6,360, represents payment on October 31, 2021, for rent from November 1, 2021, to April 30, 2022 2. The balance of Deferred Revenue, $2,300, represents payment in advance from a customer. By the end of the year, $575 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, 2022. 4. The balance of Supplies, $3,300, represents the amount of office supplies on hand at the beginning of the year of $1,350 plus an additional $1,950 purchased throughout 2021. By the end of 2021, only $730 of supplies remains.
what is the debit and credit?

Answer 1

Date General journal. Debit. Credit

Dec 31. Deferred revenue. $575

Service revenue. $ 575