Katelyn Marie's Law Firm's Unadjusted Trial Balance Includes the Following $\begin{array} { l l } \text { Cash } & \$ 4,20 t \\\text { Wnearned Legal Fees } & 2,200 \\\text { Legal Fees Revenue } & 14,400\end{array}$

question 104

Essay

Katelyn Marie's Law Firm's unadjusted trial balance includes the following:
$\begin{array} { l l } \text { Cash } & \$ 4,20 t \\\text { Wnearned Legal Fees } & 2,200 \\\text { Legal Fees Revenue } & 14,400\end{array}$ Using the above data,record the adjusting entry for $2,000 of the unearned legal fees earned.

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Definitions:

Financials Section

A part of a business plan or report that contains detailed information about the company's past and projected financial performance, including balance sheets, income statements, and cash flow statements.

SWOT Analysis

A methodology utilized in strategic planning to analyze and grasp the strengths, weaknesses, opportunities, and threats involved in competing in business or in project development planning.

External Factors

Elements outside of a company's control that can affect its performance and strategic choices, such as economic conditions, competitors, and regulatory environments.

Short-term Performance

An evaluation of an entity's achievements or results over a brief period, typically focusing on metrics like quarterly earnings or monthly sales figures.