1. At the end of the current year, $14,800 of fees have been earned but have not been billed to clients.

Journalize the adjusting entry to record the accrued fees. If an amount box does not require an entry, leave it blank.

blank	Accounts PayableAccounts ReceivableCashFees EarnedFees ExpenseFees PayableUnearned Fees	- Select -	- Select -
	Accounts PayableAccounts ReceivableCashFees EarnedFees ExpenseFees PayableUnearned Fees	- Select -	- Select -

2.

Katherine Brewer is the stockholder and operator of Personality Shine LLC, a motivational consulting business. At the end of its accounting period, December 31, 20Y2, Personality Shine has assets of $691,000 and liabilities of $166,000. Using the accounting equation, determine the following amounts:

a. Stockholders' equity as of December 31, 20Y2. $fill in the blank 1

b. Stockholders' equity as of December 31, 20Y3, assuming that assets decreased by $131,000 and liabilities decreased by $40,000 during 20Y3. $fill in the blank 2