Accrued fees earned but not recorded at August 31 are $25,750. Which of the following is correct for the reversing entry on September 1?
A) credit Unearned Fees for $25,750
B) debit Accounts Receivable for $25,750
C) debit Fees Earned for $25,750
D) credit Fees Earned for $25,750

Question

Quizplus · Accepted Answer

The reversing entry on September 1 would involve debiting Fees Earned for $25,750 to reverse the accrued revenue that was recorded at the end of August.

Accrued Fees Earned but Not Recorded at August 31 Are