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Question 3.4: Adjustment for Unearned Revenue The balance in the unearned ......

Adjustment for Unearned Revenue

The balance in the unearned fees account, before adjustment at the end of the year, is $ 44,900.

Journalize the adjusting entry required if the amount of unearned fees at the end of the year is $ 22,300.

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Unearned Fees ……………………………………………………………………… 22,600

Fees Earned …………………………………………………………………………..                       22,600

Fees earned ($ 44,900 – $ 22,300).

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