Instructions At the end of the current year, $18,350 of fees have been earned but have not been billed to clients Required: A. Journalize the December 31 adjusting entry to record the accrued fees. Refer to the Chart of Accounts for exact wording of account boes Bt the cash basis rather than the accrual basis had been used, would an adjusting entry have been necessary? Chart of Accounts CHART OF ACCOUNTS General Ledger ASSETS REVENUE 11 Cash 12 Accounts Receivable 13 Supplies 14 Prepaid Insurance 15 Land 16 Equipment 17 Accumulated 41 Fees Earned EXPENSES 51 Advertising Expense 52 Insurance Depreciaton- Equipment Expense 53 Rent Expense 54 Salary Expense 55 Supplies Expense LIABILITIE S 21 Accounts Payable 22 Unearned Fees 23 Salaries Payable 24 Taxes Payable 56 Ublibers Expense 57 Depreciation Expense 59 Miscellaneous Expense EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends