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-   -   Earned but unbilled fees (https://www.askmehelpdesk.com/showthread.php?t=187839)

  • Feb 24, 2008, 04:53 PM
    triffis
    Earned but unbilled fees
    Where is the amount credited to if you debit it out of service revenue under adjustments?
  • Feb 24, 2008, 06:05 PM
    triffis
    I figured it out... I had it wrong... if you have earned but unbilled fees, then you debit accounts receivable, and credit service revenue.
  • Feb 24, 2008, 10:57 PM
    morgaine300
    That's correct.

    And you'd never debit a revenue account for an adjusting entry. A correcting entry, sure, but not an adjusting entry. The point of adjusting entries is to record revenues and expenses, not remove them.

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