At the end of the current year, $11,500 of fees have been earned but have not been

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At the end of the current year, $11,500 of fees have been earned but have not been billed to clients.

a. Journalize the adjusting entry to record the accrued fees.

b. If the cash basis rather than the accrual basis had been used, would an adjusting entry have been necessary? Explain.

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Accounting

ISBN: 978-0324188004

21st Edition

Authors: Carl s. warren, James m. reeve, Philip e. fess

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Question Posted: Nov 03, 2012 05:34 AM

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At the end of the current year, $11,500 of fees have been earned but have not been

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a Accounts Receivable 11500 Fees Earned 11500 b No If ...View the full answer

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