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    madskwabbles's Avatar
    madskwabbles Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 3, 2014, 04:11 PM
    At the end of the current year, $19,900 of fees have been earned but not billed to cl
    At the end of the current year, $19,900 of fees have been earned but not billed to clients.
    a. What is the adjustment to record the accrued fees? Indicate each account affected, whether the account is increased or decreased, and the amount of the increase or decrease.
    b. If the cash basis rather than the accrual basis had been used, would an adjustment have been necessary? Explain.
    Curlyben's Avatar
    Curlyben Posts: 18,514, Reputation: 1860
    BossMan
    		  
    #2

    Feb 3, 2014, 04:12 PM
    What do YOU think ?
    While we're happy to HELP we wont do all the work for you.
    Show us what you have done and where you are having problems..
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #3

    Feb 3, 2014, 07:42 PM
    In cash base accounting you only record entries when cash is received or paid like when you receive cash from a customer or you pay an expense in cash.
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