eNOW2 | Onlin X w.com/ilm/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSessionl Adjusting Entry for Accrued Fees At the end of the current year, $59,500 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? Previous Submit Asignment for Email instructr All work seed maining: 2:04 12 124 11/120 ch PgUp End Home Prt Scn & 86 lenment/takeAssignmentMain.dorinvokerassignments8takeAssignmentSessionl Calculator Adjustment for prepaid expense Instructions Chart of Accounts Jounal Instructions The prepaid insurance account had a beginning balance of $4,500 and was debited for $16,600 of premiums paid during the year Journalize the adjusting entry required at the end of the year, assuming the amount of unexpired insurance related to future periods is $5,600. Refer to the Chart of Accounts for exact wording of account titles