The balance in the unearned fees account, before adjustment at the end of the year, is $12,120.

	Required:
	Journalize the adjusting entry required if the amount of unearned fees at the end of the year is $7,880. Refer to the Chart of Accounts for exact wording of account titles.

Journalize the adjusting entry required if the amount of unearned fees on December 31 is $7,880. Refer to the Chart of Accounts for exact wording of account tities. PAGE 1 JOURNAL DATE POST. REF DEBIT CREDIT