The balance in the unearned fees account, before adjustment at the end of the year, is $1,375,000.
Question:
The balance in the unearned fees account, before adjustment at the end of the year, is $1,375,000. What is the adjustment if the amount of unearned fees at the end of the year is $1,100,000? Indicate each account affected, whether the account is increased or decreased, and the amount of the increase or decrease.
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The adjustment needed is to decrease the Unearned Fees account by 275000 1375000 1100000 an...View the full answer
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