a) to adjust the unearned fees account and (b) to record the accrued fees. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amo
a) to adjust the unearned fees account and (b) to record the accrued fees. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amo
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter12: Financial Statements, Closing Entries, And Reversing Entries
Section: Chapter Questions
Problem 3PA: The following partial work sheet covers the affairs of Masanto and Company for the year ended June...
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The balance in the unearned fees account, before adjustment at the end of the year, is $96,470. Of these fees, $84,165 have been earned. In addition, $36,205 of fees have been earned but have not been billed.
Journalize the December 31 adjusting entries (a) to adjust the unearned fees account and (b) to record the accrued fees. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.
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