Journal Final Question structions n December 31, the tollowing data were accumulated for prepang the adjusting entries for Belingham Realty The supplies account balance on December 31 is $5,635, The supplies on hand on December 31 are $1,495 The unearned rent account balance on December 31 is $4,600 representing the receipt of an advance payment on December 1 of four months. rent from tenants Wages accrued but not paid at December 31 are $2,035. Fees earmed but unbilled at December 31 are $15,450 Depreciation of office equipment is $4,420 Required: 1. Journalize the adjusting entries required at December 31. Refer to the Chart of Accounts for exact wording of account tiles. 2. What is the difference between adjusting entries and correcting entries? Journal Final Question ructions Chart of Accounts ASSETS 11 Cash 12 Accounts Receivable REVENUE 41 Fees Earned 42 Rent Revenue 3 Supplies 14 Prepaid Insurance 15 Land 16 Office Equipment EXPENSES 51 Advertising Expense 52 Insurance Expense 53 Rent Expense 54 Wages Experise 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 31 Common Stock 32 Retained Earnings 33 Dividends