The balance in the unearned fees account, before adjustment at the end of the year, is $272,500. Journalize the adjusting entry required, assuming the amount of unearned fees at the end of the year is...

The balance in the unearned fees account, before adjustment at the end of the year, is $272,500. Journalize the adjusting entry required, assuming the amount of unearned fees at the end of the year is $189,750.

On June 1, 2016, Herbal Co. received $18,900 for the rent of land for 12 months. Journalize the adjusting entry required for unearned rent on December 31, 2016.