At the end of the current year, $47,700 of fees have been earned but not billed to clients. What is the adjustment to record the accrued fees? [Select] Indicate each account affected, whether the account is increased or decreased, and the amount of the increase or decrease. If the cash basis rather than the accrual basis had been used, would an adjustment have been necessary? [Select]

At the end of the current year, $47,700 of fees have been earned but not billed to clients. What is the adjustment to record the accrued fees? [Select] Indicate each account affected, whether the account is increased or decreased, and the amount of the increase or decrease. If the cash basis rather than the accrual basis had been used, would an adjustment have been necessary? [Select]

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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