Chart of Accounts structions Al the end of the current year, 559,500 of fees have been earned but have not been biled to clients. Required: A Journalize the adjusting entry to record the accrued fees on December 31. Refer to the Chart of Accounts for exact wording of account bites. B. If the cash basis rather than the accrual basis had been used, would an adjusting entry have been necessary? LIABILITIES 56 Utilities Expense 57 Depreciation Expense 21 Accounts Payable Pre Ched My Work CHART OF ACCOUNTS General Ledger ASSETS REVENUE 11 Cash 41 Fees Eamed NATION 12 Accounts Receivable OUTY 13 Supplies 14 Prepaid Insurance EXPENSES 51 Advertising Expense 52 Insurance Expense 15 Land 53 Rent Expense 16 Equipment 17 Accumulated Depreciation Equipment LIABILITIES 21 Accounts Payable 22 Unearned Fees 23 Salaries Pavable 54 Salary Expense 55 Supplies Expense 56 Utilities Expense 57 Depreciation Expense 59 Miscellaneous Expense