Adjusting Entry

DUTCH327 · #1 Oct 20, 2007, 01:37 PM

I am trying to make the following adjusting entry:

Fees received on account in advance from clients 6,900

Is that: debit to accounts receivable and credit to unearned revenue?

newlen5990 · Oct 20, 2007, 02:01 PM

Not if you recieved cash then it is a debit to cash and a credit to unearned revenue. It depends on how it is paid for credit or cash but you are on the right track



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