EX 3-10 Adjusting entry for accrued fees

At the end of the current year, $12,300 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.

"Get 15% discount on your first 3 orders with us"
Use the following coupon

Order Now