2/20/19, 8:27 PM 1. EX03-03 BLANKSHEETALGO (Algorithmic) Adjusting entry for accrued fees Instructions A: the end of the current year, $21,200 of fees have been earned but have net been biled to clients. Required: A. Joumatze the adusnng entry to record the accrued fees on December 31. Refer to ne Chart of Accounts for exact wording of account arles. H. if the eash baais rather than the accrual basia had beon used, woud anausng ontry have bson noces sary? Chart of Accaunts CHART OF ACCOUNTS General Ledger ASSET REVENUE 11 Cash 12 Accounts Receivable 13 Supples 14 Prepaid nsurance 15 Land 16 Equipment 17 Accumulated Depreciation-Equpment 54 Salary Expense 41 Fees Earned EXPENSES 51 Advarising Expense 2 Insurance Expense 53 Rent Dxpense 56 Supplies Expense 56 Uslities Expense 57 Dapreciation Expense LIA BILITIES 21 Accounts Payable 22 Urearned Fees 23 Salaries Payable 24 Taxes Payable Miscellancous Expense EQUITY 31 Common Stock 32 Retaired Earnings 33 Dividends Journal A. Journauze me adjusting entry to recorothe accrued tees on December 31 Refer to ge Chat ot Accounts tor exact wording of account toes AGE JOURNAL ACCOUNTING EQUATION DESCRPTIOH Adusting Entries POST. REF Final Question https://cxp.ce ngage .com/activityservice/run/html5/handler.sp?id-a5.c engagenow.com&xdm_c activity Service-activity-15507123791 10&xdm-p=1 Page 1 of 6