Journalize the adjusting entries required on march

Assignment Help Accounting Basics

Reference no: EM131911464

Problem

On March 31, the following data were accumulated to assist the accountant in preparing the adjusting entries for Potomac Realty:

a. The supplies account balance on March 31 is $5,865, the supplies on hand on March 31 are $1,330.

b. The unearned rent account balance on March 31 is $4,100 representing the receipt of an advance payment on March 1 of four months' rent from tenants.

c. Wages accrued but not paid at March 31 are $2,030.

d. Fees accrued but unbilled at March 31 are $18,090.

e. Depreciation of office equipment is $4,500.

Required:

1. Journalize the adjusting entries required on March 31. Refer to the Chart of Accounts for exact wording of account titles.

Reference no: EM131911464

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