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Adjusting Entries for Unearned and Accrued Fees The balance in the unearned fees account, before adjustment at the end of the year, is $110,730. Of these fees, $68,655 have been earned. In addition, $13,290 of fees have been earned but have not been billed. a. Journalize the adjusting entry to adjust the unearned fees account. If an amount box does not require an entry, leave it blank. Unearned Fees Fees Earned Feedback Check My Work Consider the accounts involved in the recording of this transaction. Recall that unearned revenues are liabilities until they become earned revenues over time or during normal operations. Unearned fees decrease for the amount of the revenue that has been earned. b. Journalize the adjusting entry to record the accrued fees. If an amount box does not require an entry, leave it blank. Accounts Receivable Fees Earned Feedback Check My Work At the end of an accounting period, there may be revenue that has been earned but has not been recorded. In such cases, the revenue is increased. What account is used when you are receiving cash later? Check My Work Previous Next