If throughout an accounting period the fees for legal services paid in advance by clients are recorded in an account called Unearned Legal Fees, the end-of-period adjusting entry to record the portion of those fees that has been earned is:
A. Debit Cash and credit Legal Fees Earned.
B. Debit Unearned Legal Fees and credit Legal Fees Earned.
C. Debit Cash and credit Unearned Legal Fees.
D. Debit Unearned Legal Fees and credit Accounts Receivable.
E. Debit Legal Fees Earned and credit Unearned Legal Fees.
Answer: B
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