At the end of the current year, $17,950 of fees have been earned but have not been

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At the end of the current year, $17,950 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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Corporate Financial Accounting

ISBN: 978-0357510384

16th Edition

Authors: Carl S Warren, Jeff Jones

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