The balance in the unearned fees account, before adjustment at the end of the year, is $38,375.
Question:
a. Journalize the adjusting entry required if the amount of unearned fees at the end of the year is $17,200.
b. Why was this unearned fees account set up? What transaction occurred to require this account?
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Related Book For
Corporate Financial Accounting
ISBN: 9781337398169
15th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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