Accounting 26th Edition by Carl Warren,James Reeve,Jonathan Duchac

Exercise 23

Adjusting entries for unearned and accrued fees
The balance in the unearned fees account, before adjustment at the end of the year, is $97,770. Of these fees, $82,220 have been earned. In addition, $34,250 of fees have been earned but have not been billed. Journalize the adjusting entries (a) to adjust the unearned fees account and (b) to record the accrued fees.