Adjusting entries for unearned and accrued fees The balance in the unearned fees account before adjustment at the end of the

Question

Adjusting entries for unearned and accrued fees The balance in the unearned fees account before adjustment at the end of the year is 113 370 Of these fees 70 290 have been earned In addition 13 600 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

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