Justing entries Chart of Accounts Journal Final Question Instructions On March 31, the following data were accumulated to assist the accountant in preparing the adjusting entries for Potomac Realty . The supplies account balance on March 31 is $5,925, the supplies on hand on March 31 are $1,275 The uneamed rent account balance on March 31 is $5,200 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 $2.320. Fees accrued but unbilled at March 31 are $18,220 Depreciation of office equipment is 84.350. Required: 1. Journaire the adjusting entries required at March 31. Refer to the Chart of Accounts for exact wording of accounts 2. What is the difference between adjusting entries and correcting entries? Previous Check My Work All work saved Save and Ex Submit Assignment for MacBook Air F VYO F7 FB F4 FS $ 4 % 5 & 7 6 8 9 0 R 0 P Y U T Chart of Accounts ASSETS REVENUE 11 Cash 41 Fees Earned 42 Rent Revenue 12 Accounts Receivable 13 Supplies 14 Prepaid Insurance 15 Land 16 Office Equipment 17 Accumulated Depreciation Office Equipment EXPENSES 51 Advertising Expense 52 Insurance Expense 53 Rent Expense 54 Wages Expense 55 Supplies Expense 56 Utilities Expense 57 Depreciation Expense 59 Miscellaneous Expense LIABILITIES 21 Accounts Payable 22 Unearned Rent 23 Wages Payable 24 Taxes Payable EQUITY Check My Work All work saved. 19 tv MacBook Air 23 Wages Payable 39 MISCE 24 Taxes Payable EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends Check My Work All work saved. 19 MacBook Air Book Show Me How Calculator Instructions Journal PAGE 10 JOURNAL ACCOUNTING EQUATION DATE POSTER ORDIT ASSETS LRUTIES FQUITY BRPTION Adjusting Entries 1 2 Check My Work Previous All work saved Save and Submit Assignment for Grading 09 MacBook Air F4 FO FS F8 FB F9 A & $ 4 % 5 6 7 8 9 0 R T Y 0 P