November 2023 At the end of the current year 8 450 of fees have been earned but have not been billed to clients

At the end of the current year, $8,450 of fees have been earned but have not been billed to clients. a. Journalize the adjusting entry to record the accrued fees. b. If the cash basis rather than the accrual basis had been used, would an adjusting entry have been necessary? Explain.