On July 1, 20x7, a company received $10,500 for the rent of land for 12 months (Jully 20x7 thru June 20x8) all of which is recorded as unearned rent. Assuming no other entries related to the rent were made during the year, journalize the adjusting entry required at fiscal year-end December 31, 20x7. (4.85 Points) 5. Credit Debit Account/Description Date Illustrate how the above entry will affect the accounting equation: Owner's Equity Liabilities Assets At fiscal year-end 6/30/20x7, $14,685 of fees have been earned but have not been billed to clients. Journalize the adjusting entry to record the accrued fees. (3.35 Points) 6. Credit Debit Account/Description Date llustrate how the above entry will affect the accounting equation: Owner's Equity Liabilities Assets