Bank Fees DR.
Normal Expesnes Accrual Account Cr.
Debit cash / bank / accounts receivableCredit fee income
cash a/c debit fees a/c credit
To record a journal entry for an insufficient funds charge, you would typically debit the bank fees expense account to reflect the cost incurred and credit the cash account to decrease the cash balance. For example, if the charge is $35, the entry would be: Debit Bank Fees Expense $35 and Credit Cash $35. This accurately reflects the expense and the reduction in cash due to the insufficient funds charge.
Fees A/c Dr. To Cash A/c Cr.
debit cashcredit professional fee revenue
DR DIRCTOR FEES CR Bank / ACCRUALS
Debit cash / bank / accounts receivableCredit fee income
debit franchise feecredit cash /bank
Dr Land & Property Cr Bank
cash a/c debit fees a/c credit
Fees A/c Dr. To Cash A/c Cr.
Debit cash / bankCredit fee income
debit cashcredit professional fee revenue
The journal entry to record director fees typically involves debiting an expense account and crediting a liability account. For example, if a company owes $1,000 in director fees, the entry would be: Debit "Director Fees Expense" for $1,000 and Credit "Accrued Liabilities" (or "Accounts Payable") for $1,000. This reflects the expense incurred and the obligation to pay the director. When the payment is made, the liability account would then be debited, and cash would be credited.
Debit: Deferred loan origination fees Credit: Interest income
12/31/07 Debit Professional Fees, Credit Accrued Expenses.
year end