The balance in the unearned fees account, before adjustment at the end of the year, is $13,010. Journalize the adjusting entry required if the amount of unearned fees at the end of the year is $4,110. If an amount box does not require an entry, leave it blank.

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 $13,010. Journalize the adjusting entry required if the amount of unearned fees at the end of the year is $4,110. If an amount box does not require an entry, leave it blank.

 

       
       
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Formulas:

Fee earned = Unearned fee - unearned fee at the end of the year

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