The balance in the unearned fees account, before adjustment at the end of the year, is $39,295. Journalize the adjusting entry required if the amount of unearned fees at the end of the year is $15,240. Refer to the Chart of Accounts for exact wording of account titles.

Stosch company's balance sheet reported assets of $112,000, liabilities of $29,000 and common stock of $26,000 as of december 31, year 1. if retained earnings on the balance sheet as of december 31, year 2, amount to $74,000 and stosch paid a $28,000 dividend during year 2, then the amount of net income for year 2 was which of the following? a)$23,000 b) $35,000 c) $12,000 d)$42,000