culator justing entries Instructions Journal Chart of Accounts HI Final Question Instructions On December 31, the following data were accumulated for preparing the adjusting entries for Bellingham Realty The supplies account balance on December 31 is $5,210. The supplies on hand on December 31 are $1,135. The uneared rent account balance on December 31 is $5,600 representing the receipt of an advance payment on December 1 of four months rent from tenants. Wages accrued but not paid at December 31 are $2,125 Fees earned but unbilled at December 31 are $18,625 Depreciation of office equipment is $4,805, Required: 1. Journalize the adjusting entries required at December 31. Refer to the Chart of Accounts for exact wording of account titles. 2. What is the difference between adjusting entries and correcting entries? Chart of Accounts CHART OF ACCOUNTS Bellingham Realty General Ledger REVENUE ASSETS 41 Fees Earned 11 Cash 42 Rent Revenue 12 Accounts Receivable 13 Supplies EXPENSES 14 Prepaid Insurance 15 Land 51 Advertising Expense 52 Insurance Expense 16 Office Equipment 17 Accumulated Depreciation Office Equipment 53 Rent Expense 54 Wages Expense LIABILITIES 21 Accounts Payable 55 Supplies Expense 56 Utilities Expense 57 Depreciation Expense 59 Miscellaneous Expense 22 Unearned Rent 23 Wages Payable 24 Taxes Payable Journal 1. Journalize the adjusting entries required on December 31. Refer to the Chart of Accounts for exact wording of account titles. JOURNAL ACCOU DATE POST. REF. DEBIT CREDIT ASSETS DESCRIPTION Adjusting Entries 1 2 3 4 5 6 7 9 10 11