Question
The balance in the unearned fees account, before adjustment at the end of the year, is $97,770. Of these fees, $39,750 have been earned. In
The balance in the unearned fees account, before adjustment at the end of the year, is $97,770. Of these fees, $39,750 have been earned. In addition, $24,650 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.
b.Journalize the adjusting entry to record the accrued fees. If an amount box does not require an entry, leave it blank.
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
9th edition
1-119-49356-3, 1119493633, 1119493560, 978-1119493631
