Instructions Chart of Accounts Journal Final Question Instructions At the end of the current year, $59,500 of fees have been earned but have not been billed to chents Required A Journalize the adjusting entry to record the accrued tees on December 31 Reter to the Chart of Accounts for exact wording of account stes B. if the cash basis rather than the accrual basis had been used would an adjusting entry have been necessary? Chart of Accounts Journal Final Question Chart of Accounts CHART OF ACCOUNTS ed lize ash General Ledger ASSETS 11 Cash 12 Accounts Receivable 13 Supplies 14 Prepaid Insurance 15 Land 16 Equipment 17 Accumulated Depreciation-Equipment REVENUE 41 Fees Earned EXPENSES 51 Advertising Expense 52 Insurance Expense 53 Rent Expense 54 Salary Expense 55 Supplies Expense 56 Ubilities Expense 57 Depreciation Expense 50 Miscellaneous Expense LIABILITIES 21 Accounts Payable 22 Unearned Fees 23 Salaries Payable 24 Taxes Payable EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends Shaded cells have feedback * A Joumalize the aojusting enbry to recordl the accrued fees on December 31. Refer to the Chart of Accounts for exact wording of account stles Question not attempted PAGE 1 OURNAL Score: 0/25 ACCOUNTING EQUATION DATE DESCRIPTION CACOIT Adjusting Entries Points0/5 Feedback Check My Verk Ar the end of an accounting period, there may be revenue that has bwen earned but han not been recorded In such cases, the revenue s increased. What aooount is used when you are ng cash late