**Scenario: Adjusting Journal Entry for Accrued Fees**At the end of the current year, fees of $6,850 have been earned but have not been billed to clients. Journalize the adjusting entry for the accrued fees. If an amount box does not require an entry, leave it blank.**Instructions:**1. Use the dropdown menus to select the appropriate accounts.2. Enter the corresponding amounts in the boxes provided.3. Leave any unnecessary amount boxes blank.(Note: The dropdowns and amount boxes are part of an interactive exercise to practice journalizing entries in accounting.)

At the end of the current year, fees of $6,850 have been earned but have not been billed to clients. Journalize the adjusting entry for the accrued fees. If an amount box does not require an entry, leave it blank.

At the end of the current year, fees of $6,850 have been earned but have not been billed to clients. Journalize the adjusting entry for the accrued fees. If an amount box does not require an entry, leave it blank.

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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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

**Scenario: Adjusting Journal Entry for Accrued Fees**

At the end of the current year, fees of $6,850 have been earned but have not been billed to clients. Journalize the adjusting entry for the accrued fees. If an amount box does not require an entry, leave it blank.

**Instructions:**

1. Use the dropdown menus to select the appropriate accounts.
2. Enter the corresponding amounts in the boxes provided.
3. Leave any unnecessary amount boxes blank.

(Note: The dropdowns and amount boxes are part of an interactive exercise to practice journalizing entries in accounting.)

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