Unformatted text preview: Accrual of Unrecorded Revenues - Assume a law firm renders $10,000 of services
during January, but does not bill for these
services until March 31 - The following adjustment is made for
unrecorded revenues for the month ofJanuary Accrued (Unbilled) Fees Receivable 10,000 Fee Revenue 10,000 - Failure to make this adjustment understates both
assets and revenues...
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- Fall '07
- Financial Accounting