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    triffis's Avatar
    triffis Posts: 2, Reputation: 1
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    #1

    Feb 24, 2008, 04:53 PM
    Earned but unbilled fees
    Where is the amount credited to if you debit it out of service revenue under adjustments?
    triffis's Avatar
    triffis Posts: 2, Reputation: 1
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    #2

    Feb 24, 2008, 06:05 PM
    I figured it out... I had it wrong... if you have earned but unbilled fees, then you debit accounts receivable, and credit service revenue.
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #3

    Feb 24, 2008, 10:57 PM
    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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