At the end of the current year, $17,555 of fees have been earned but have not been billed to clients.

At the end of the current year, $17,555 of fees have been earned but have not been billed to clients. Journalize the adjusting entry (include an explanation) to record the accrued fees.

Answer:

Accounts Receivable 17,555

                Fees Earned 17,555

                 Accrued fees.