The balance in the unearned fees account, before adjustment at the end of the year, is $39,295.
The balance in the unearned fees account, before adjustment at the end of the year, is $39,295.
Journalize the adjusting entry required if the amount of unearned foes at the end of the year is $15,240. Refer to the Chart of Accounts for exact wording of account titles
Homework Answers
Solution:
| Account title | Debit | Credit |
| Unearned Fees (39295-15240) | $24,055 | |
| Fees Earned | $24,055 |
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