EX 3-3 Adjusting entry for accrued fees OBJ. 2 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? Explain. EX 3-3 Adjusting entry for accrued fees OBJ. 2 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? Explain