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Classifying Adjusting Entries The following accounts were taken from the unadjusted trial balance of Orion Co., a congressional lobbying firm. Indicate whether or not each

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Classifying Adjusting Entries The following accounts were taken from the unadjusted trial balance of Orion Co., a congressional lobbying firm. Indicate whether or not each account would normally require an adjusting entry. If the account normally require an adjusting entry, use the following notation to indicate the type of adjustment: AE-Accrued Expense AR-Accrued Revenue PE-Prepaid Expense UR-Unearned Revenue To illustrate, the answer for the first account follows: Answer Normally requires adjustment (AR). Account Accounts Receivable Cash Common Stock Interest Expense Interest Receivable Land Office Equipment Prepaid Rent Supplies Unearned Fees Wages Expense Adjustment for Accrued Revenues At the end of the current year, $17,670 of fees have been earned but have not been billed to clients. Journalize the adjusting entry to record the accrued fees

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