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Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535 Exercise 8
Adjusting entries for unearned and accrued fees
The balance in the unearned fees account, before adjustment at the end of the year, is $97,770. Of these fees, $39,750 have been earned. In addition, $24,650 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.
The balance in the unearned fees account, before adjustment at the end of the year, is $97,770. Of these fees, $39,750 have been earned. In addition, $24,650 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.
Explanation
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Accrued expenses are the expenses which ...
Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
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