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At the end of the current year, $12,300 of fees have been earned but have not been billed to clients.

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At the end of the current year, $12,300 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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a Accounts Receivable 12 300 Fees Earned 12 300 Accrued …View the full answer


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Related Book For  answer-question
Financial and Managerial Accounting

Financial and Managerial Accounting

ISBN: 978-0538480895

11th Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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Question Posted: October 14, 2011 04:52:45
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