The balance in the unearned fees account, before adjustment at the end of the year, is $$100,350.$ Of these fees, $$62,215$ have been earned.

In addition, $$12,040$ of fees have been earned but have not been billed.

a$.$ Journalize the adjusting entry to adjust the unearned fees account. If an amount box does not require an entry, leave it blank.

Unearned Fees

b$.$ Journalize the adjusting entry to record the accrued fees. If an amount box does not require an entry, leave it blank.

Accounts Receivable $$