At the end of the current year, $8,450 of fees have been earned but have not been
Question:
At the end of the current year, $8,450 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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Step by Step Answer:
a Accounts Receivable 8450 Fees Earned 8450 Accrued fees ...View the full answer
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Related Book For 
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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