What does Cheque Dishonoured Journal entry mean? That means reversal of the following: Let's learn journal entries for each of the scenarios. Cheque Dishonoured Journal Entry Scenario I: The entity pays its vendor through a Cheque. The Journal Entry (JE) will … [Read more...] about Cheque Dishonoured Journal Entry
Accounting
Bank Charges Journal Entry
Bank Charges Journal Entry does not have any unusual accounting treatment. So, its similar to any other expenditure journal entry. Bank Charges are expenses to the account holder and income to the Bank. What’s the Bank Charges Journal Entry? In the Books of Account … [Read more...] about Bank Charges Journal Entry
Accrued Audit Fees Journal Entry
Accrued Audit fees Journal entry relates the audit fees which is incurred but not paid. Hence it relates to outstanding expenses. So, it's a liability account. Audit fees are expenses charged by the audit professional against verifying and testing the books of accounts … [Read more...] about Accrued Audit Fees Journal Entry
Commission Received Journal Entry
A Brief Discussion on Commission Received Journal Entry: The accounting treatment to Commission Received Journal Entry is similar to any other income Journal Entry. It is an income to the entity against providing some services or making affiliate sales. How about an … [Read more...] about Commission Received Journal Entry
Outstanding Expenses Journal Entry
We can infer from the Article name, "Outstanding Expenses Journal Entry" that the journal entry relates to the expenses which are not paid but incurred. Confused? Let's break it down. Business thrives based on credit allowed by its suppliers and permitted credit to its … [Read more...] about Outstanding Expenses Journal Entry