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Journalize the adjusting entry to record the accrued fees

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Question - The balance in the unearned fees account, before adjustment at the end of the year, is $123,430. Of these fees, $76,525 have been earned. In addition, $14,810 of fees have been earned but have not been billed.

Required -

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

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

Reference no: EM132525976

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