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 $5,620, the supplies on hand on March 31 are $1,290.The unearned rent account balance on March 31 is $5,000 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 $2,290.Fees accrued but unbilled at March 31 are $16,825.Depreciationof office equipment is $4,600.

1.Journalize the adjusting entries required at March 31.

2.What is the difference between adjusting entries and correcting entries?