Instructions Journal Shaded cells have f On March 31, the following data were accumulated to assist the accountant in preparing the adjusting entries for Potomac Realty: 1. Journalize the adjusting entries required on March 31. Refer to the Chart of Accounts for exact wording of account titles. The supplies account balance on March 31 is $5,635, the supplies on hand on March 31 are $1,495 How does grading work? JOURNAL Score: 120/126 The unearned rent account balance on March 31 is $4,600 representing the receipt of an advance payment on March 1 of four months' rent from tenants. Wages accrued but not paid at March 31 are $2,035. Fees accrued but unbilled at March 31 are $15,450. Depreciation of office equipment is $4,420 DATE DESCRIPTION POST. REF. DEBIT CREDIT AS 1 Adjusting Entries 2 Mar. 31 Supplies Expense 4,140.00 3 4,140.00 Supplies Rent Revenue 4 Mar. 31 Required: 1. Journalize the adjusting entries required at March 31. Refer to the Chart of Accounts for exact wording of account titles. 2. What is the difference between adjusting entries and correcting entries? 5 Unearned Rent Mar. 31 Wages Expense 2,035.00 Wages Payable 2,035.00 8 Mar. 31 Accounts Receivable 15,450.00 9 Fees Earned 15,450.00 10 4,420.00 Mar. 31 Depreciation Expense Accumulated Depreciation Office Equipment 11 4,420.00