The Following Adjusting Journal Entry Does Not Include an Explanation

question 130

Multiple Choice

The following adjusting journal entry does not include an explanation. Select the best explanation for the entry.

• A) Record payment of fees earned
• B) Record fees earned at the end of the month
• C) Record fees that have not been earned at the end of the month
• D) Record payment of fees to be earned.

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Definitions:

Joint Venture

A partnership established for a specific project or for a limited time.