Problems: Series A PR 3-1A Adjusting entries Obj. 2,3,4 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 supplles 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 pald at March 31 are $2,290. - Fees pccrued but unbliled at March 31 are 516,825 . - Depreciation of office equipment is $4,600. Instructions 1. Joumalize the adjusting entries required at March 31. 2. Bumbiefly explain the difference between adjusting entries and entries that would be made to correct errors. PR 3-2A Adjusting entries Ob). 2,3,4,5 Selected account balances before adjustment for Atlantic Coast fte thy at July 31 , the end of the current year, are as follows