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Bank Fees DR.

Normal Expesnes Accrual Account Cr.

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11y ago

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DR DIRCTOR FEES CR Bank / ACCRUALS


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debit cashcredit professional fee revenue


What is the director fees journal entry?

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.


What is the accounting journal entry to record loan fees amortized?

Debit: Deferred loan origination fees Credit: Interest income


What would the journal entry be to accrue for 2007 accounting expenses that won't be received until 2008?

12/31/07 Debit Professional Fees, Credit Accrued Expenses.


When do you accrue for audit fees monthly or year end?

year end