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denis-greek [22]
2 years ago
12

The balance in the unearned fees account, before adjustment at the end of the year, is $14,530. Journalize the adjusting entry r

equired if the amount of unearned fees at the end of the year is $7,480. If an amount box does not require an entry, leave it blank. fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6
Business
1 answer:
yanalaym [24]2 years ago
7 0

Answer and Explanation:

The adjusting journal entry is given below;

Unearned fee revenue $7,050 ($14,530 - $7,480)

           To Fee revenue  $7,050

(Being the fees revenue is recorded)

here the unearned fees revenue is debited as it decreased the liabilities and credited the fees revenue as it increased the revenue

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