At the end of the current year, $59,500 of fees have been earned but have not been
Question:
At the end of the current year, $59,500 of fees have been earned but have not been billed to clients.
a. Journalize the adjusting entry to record the accrued fees.
b. If the cash basis rather than the accrual basis had been used, would an adjusting entry have been necessary? Explain.
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a As still the revenue being not encashed it is called accrued income or ...View the full answer
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Related Book For 
Accounting
ISBN: 9781337902687
28th Edition
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
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