c. Unearned Revenue: The balance in the UNEARNED FEES account at 1/1 is $4,200, representing revenue to be earned from 1/1 through 7/31. On 8/1 $8,400 was received from customers for service to be provided over the next 12 months. 12/31 UNEARNED FEES FEES EARNED reported on the Income Statement? UNEARNED FEES reported on the Balance Sheet? 1/1 8/1 12/31 d. Salary Expense: A business has a weekly SALARY EXPENSE of $37,500. This business routinely pays its employees at the end of the day on Friday for that week's SALARY EXPENSE. Prepare the adjusting entry for both circumstances below. 1. Assume 12/31 falls on a Tuesday. $ / 5 days = $ 2. Assumes 12/31 falls on a Wednesday. $ / 5 days = $ days $ X days $