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On October 31, the following data were accumulated to assist the accountant in preparing the adjusting entries for Bickle Realty: The supplies account balance on

On October 31, the following data were accumulated to assist the accountant in preparing the adjusting entries for Bickle Realty: The supplies account balance on October 31 is $5,635. The supplies on hand on October 31 are $1,495. The unearned rent account balance on October 31 is $4,600 representing the receipt of an advance payment on October 1 of four months rent from tenants. Wages accrued but not paid at October 31 are $2,035. Fees accrued but unbilled at October 31 are $15,450. Depreciation of office equipment is $4,420. Required: 1. Journalize the adjusting entries required at October 31. 2. What is the difference between adjusting entries and correcting entries

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