Adjusting Entry for Accrued Fees At the end of the current year, $59,500 of fees have been earned but have not been billed to clients. a. Journalize the adjusting entry to record the accrued fees. If an amount box does not require an entry, leave it blank. fill in the blank bde46203f010050_2 fill in the blank bde46203f010050_3 fill in the blank bde46203f010050_5 fill in the blank bde46203f010050_6 b. If the cash basis rather than the accrual basis had been used, would an adjusting entry have been necessary?
Adjusting Entry for Accrued Fees At the end of the current year, $59,500 of fees have been earned but have not been billed to clients. a. Journalize the adjusting entry to record the accrued fees. If an amount box does not require an entry, leave it blank. fill in the blank bde46203f010050_2 fill in the blank bde46203f010050_3 fill in the blank bde46203f010050_5 fill in the blank bde46203f010050_6 b. If the cash basis rather than the accrual basis had been used, would an adjusting entry have been necessary?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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At the end of the current year, $59,500 of fees have been earned but have not been billed to clients.
a. Journalize the adjusting entry to record the accrued fees. If an amount box does not require an entry, leave it blank.
| fill in the blank bde46203f010050_2 | fill in the blank bde46203f010050_3 | ||
| fill in the blank bde46203f010050_5 | fill in the blank bde46203f010050_6 |
b. If the cash basis rather than the accrual basis had been used, would an adjusting entry have been necessary?
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