Question
If throughout an accounting period the fees for legal services paid in advance by clients are recorded in an account called Unearned Legal Fees, the
If throughout an accounting period the fees for legal services paid in advance by clients are recorded in an account called Unearned Legal Fees, the end-of-period adjusting entry to record the portion of those fees that has been earned is:
Debit Cash and credit Unearned Legal Fees.
Debit Legal Fees Earned and credit Unearned Legal Fees.
Debit Cash and credit Legal Fees Earned.
Debit Unearned Legal Fees and credit Accounts Receivable.
Debit Unearned Legal Fees and credit Legal Fees Earned.
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Accounting What The Numbers Mean
Authors: David Marshall, Wayne William McManus, Daniel Viele
7th Edition
0073011215, 9780073011219
