PR 3-1B Adjusting entries On May 31, the following data were accumulated to assist the accountant in preparing the adjusting entries for Oceanside Realty: Obj. 2, 3, 4 SHOW ME HOW EXCEL TEMPLATE .Fees accrued but unbilled at May 31 are $19,750 . The supplies account balance on May 31 is $12,300. The supplies on hand at May 31 are $4,150. Wages accrued but not paid at May 31 are $2,700. The unearned rent account balance at May 31 is $9,000, representing the receipt of an advance payment on May 1 of three months'rent from tenants. Depreciation of office equipment is $3,200. Instructions 1. Journalize the adjusting entries required at May 31. 2 Briefly explain the difference between adjusting entries and entries that would be made to correct errors