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Journal entry in reimbursement of expenses incurred in the conduct of audit?
Wiki User
∙ 12y ago
Reimbursement expenses you keep track separetely with operational expenses
if our company pays the expenses the journal entry should be
(1)
Re-imbursement expenses a/c DR xxx
To cash a/c .... xxx
(2) As the same expenses we need to re-imburse this expenses from other ABC company
ABC company a/c Dr xxx
To Re-imbursement expenses A/c xxx
In the first Journal we debited the expenses and the second we same credited the expnenses.
Wiki User
∙ 12y ago
Wiki User
∙ 9y agodebit expenses reimburse
credit cash
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