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Though I have never heard the term "accrued vacation expense" nor have I ever heard of a "vacation" being a business expense, however, the journal entry would be handled like most "payables". So if your company uses the account of Accrued Vacation Expense, the journal entry should be something like....
Vacation Expense (debit) $XXX
Accrued Vacation Expense (credit) $XXX
Once the amount is paid, a debit would be recorded in the Accrued Vacation Expense account and a credit to Cash, to remove it from the books and note that the debt (or expense) has been met.
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∙ 14y ago
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What is the journal entry to record accrued interest expense?
Debit Accrued Interest Expense Credit Accrued Interest Payable
What is the journal entry to record an accrued exp?
debit: expense account credit: account payable (vendor)
Is tax a asset or expense and how do I record it in the General journal or balance sheet-?
Tax is an expense, you do not record it in a balance sheet but on the general journal.
WHAT is the journal entry to record yearly accrued insurance exp?
debit accrued insurance expensecredit insurance payable
How do you record accrued salaries?
Debit Salaries Expense, Credit Salaries Payable.
What is the journal entry to record payment of accrued interest?
[Debit] Interest expense xxxx [Credit] Interest payable xxxx [Debit] Interest payable xxxx [Credit] Cash / bank xxxx
What is the journal entry to record accrued interest income from note receivable?
[Debit] Accrued interest income [Credit] Notes payable
What is the journal entry to record an accrued commission?
debit commission receivablecredit commission income
Is tax a asset or expense and how do I record it in the General journal or balance sheet?
Tax should be recorded in the general journal because it is an expense.
What is the journal entry to record accrued interest income?
debit interest receivablecredit interest income
If gas accrual in Jan 15.00 Feb 15.00 and March 12.00 paid gas bill in march for Jan 25 What are your journal entries for Jan feb march including reversals of accruals accounts payable and payment?
Jan - Debit Utilities Expense $15 Credit Accrued Expenses $15, Jan accrual. Feb - Debit Utilities Expense $15 Credit Accrued Expenses $15, Feb Accrual March - Debit Utilities Expense $12 Credit Accrued Expenses $12, Mar Accrual Feb or March (when bill is received) - Debit Utilities Expense $25 Credit Accounts Payable $25, record gas bill. and Debit Accrued Expenses $15 Credit Utilities Expense $15, reverse Jan accrual. March - Debit Accounts Payable $25 Credit Cash $25, record Check #? (could be posted in Cash Disbursements Journal).
What would the journal entry be to record an accured revene?
[Debit] Revenue receivable [Credit] Accrued revenue
