# Adjusting entries On May 31, 2016, the following data were accumulated to assist the accountant in preparing the adjusting entries for Oceanside Realty: a. Fees accrued but unbilled at May 31 are $19,750. b. The supplies account balance on May 31 is$12,300. The supplies on hand at May 31 are $4,150. c. Wages accrued but not paid at May 31 are$2,700. d. 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. e. Depreciation of office equipment is$3,200. Instructions 1. Journalize the adjusting entries required at May 31, 2016. 2. Briefly explain the difference between adjusting entries and entries that would be made to correct errors.

### Accounting (Text Only)

26th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781285743615

### Accounting (Text Only)

26th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781285743615

#### Solutions

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Chapter 3, Problem 3.1BPR
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