Adjusting Entries On May 31, the following data were accumulated to assist the accountant in preparing the adjusting entries for Oceanside Realty a. Fees accrued but unbilled at May 31 are $8.920. b. The supplies account balance on May 21 is $2.930. The supplies on hand at May 31 are $940, c. Wages accrued but not paid at May 31 are $1.120. d. The neared rent account balance at May 31 is $8.730, representing the receipt of an advance payment on May 1 of three months' rent from tenants. .. Depreciation of office equipment is $1.490. Required: Journal the dusting entries required at May 31 11 23 00000 00000 33 21 Required: Journalize the adjusting entries required at May 31. May 31 31 31 00000 00000 31 31 What is the diference between adjusting entries and correcting entries? . Both adjusting entries and correcting entries are a planned part of the accounting process. b. Austing entries are a planned part of the accounting process, correcting entries are not planned but arise when necessary to correct errors, Both adjusting entries and correcting entries are not a planned part of the accounting process. d. Correcting entries are a planned part of the accounting process, adjusting entries are not planned but arise when necessary to adjust errors