Solution-Journalize the adjusting entry to record the

Journalize the adjusting entry to record the accrued fees

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Reference no: EM131127418

At the end of the current year, $8,140 of fees have been earned but have not been billed to clients.

(a) Journalize the adjusting entry to record the accrued fees.

(b) If the cash basis rather than the accrual basis had been used, would an adjusting entry have been necessary? Explain.

Reference no: EM131127418

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Journalize the adjusting entry to record the accrued fees

Reference no: EM131127418

Reference no: EM131127418

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