The balance in the unearned fees account, before adjustment at the end of the year, is $96,000.

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The balance in the unearned fees account, before adjustment at the end of the year, is $96,000. Of these fees, $78,500 have been earned. In addition, $23,600 of fees have been earned but have not been billed. Journalize the adjusting entries
(a) To adjust the unearned fees account and
(b) To record the accrued fees.

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Financial and Managerial Accounting

ISBN: 978-0538480895

11th Edition

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

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