7Help! ill rate If throughout an accounting period the fees for legal services p

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7Help! ill rate

If throughout an accounting period the fees for legal services paid in advance by clients are recorded in an account called Unearned Legal Fees, the end-of-period adjusting entry to record the portion of those fees that has been earned is:

Debit Unearned Legal Fees and credit Accounts Receivable Debit Cash and credit Legal Fees Earned Debit Unearned Legal Fees and credit Legal Fees Earned Debit Legal Fees Earned and credit Unearned Legal Fees Debit Cash and credit Unearned Legal Fees

Explanation / Answer

Debit Unearned Legal Fees and credit Legal Fees Earned answer

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