Solved: The balance in the unearned fees account before adjustment, Accounting Basics

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The balance in the unearned fees account before adjustment

Question - Adjusting Entries for Unearned and Accrued Fees

The balance in the unearned fees account, before adjustment at the end of the year, is $95,020. Of these fees, $58,910 have been earned. In addition, $11,400 of fees have been earned but have not been billed.

a. Journalize the adjusting entry to adjust the unearned fees account.

b. Journalize the adjusting entry to record the accrued fees.

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Accounting Basics: The balance in the unearned fees account before adjustment

Reference No:- TGS02607113

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