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On November 28, an attorney received $3,000 as an advanced payment for legal work to be performed. On November 28, the $3,000 was recorded with
On November 28, an attorney received $3,000 as an advanced payment for legal work to be performed. On November 28, the $3,000 was recorded with a debit to Cash and a credit to Unearned Fees. As of November 30n the attorney did not provide any legal services for the client. During December the attorney provided $1,900 of service, As of December 31 no entry had been made to Fees Earned. Q1. Will any adjusting entry be needed on November 30? Q2. The adjusting entry at December 31 will involve a debit to the account ____________ ________. Q3. The adjusting entry at December 31, will involve a credit to the account ____________ ________. Q4. The amount to be used in the December 31 adjusting entry is $_______________
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