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Question(s) / Instruction(s):

On May 1, 2009 Emily Advertising Company received $1,800 from $N2 for advertising services to be completed April 30, 2010. The Cash receipt was recorded as unearned fees and at December 31, 2009, $250 of the fees had been earned. The adjusting entry on December 31, 2009 should include:

a)            A debit to Earned Fees for $250.

b)            A credit to Earned Fees for $1,550.

c)            A debit to Earned Fees for $1,550.

d)            A credit to Unearned Fees for $250.

e)            A debit to Unearned Fees for $250.

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