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Unearned Fees
Income received by a business for services yet to be performed or delivered, recorded as a liability on the balance sheet until the services are completed.
Earned Fees
Revenue generated from providing services or performing work.
Adjusting Entry
A journal entry made in accounting records to update the balances of accounts at the end of an accounting period.
Accrued Salaries
Salaries that have been earned by employees but have not yet been paid by the employer.
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