Business, 10.06.2021 20:00 morganruhl2

At the end of the current year, $12,040 of fees have been earned but have not been billed to clients. a. Journalize the adjusting entry to record the accrued fees. If an amount box does not require an entry, leave it blank.
b. If the cash basis rather than the accrual basis had been used, would an adjusting entry have been necessary?

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At the end of the current year, $12,040 of fees have been earned but have not been billed to clients...

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