Question
In: Accounting
Corbin Company was charged $25 for a check printing service fee associated with its checking account....
Corbin Company was charged $25 for a check printing service fee associated with its checking account. Which journal entry is required?
A.Debit Miscellaneous Expense for $25 and credit Accounts Payable for $25.
B.Debit Miscellaneous Expense for $25 and credit Accounts Receivable for $25.
C.Debit Miscellaneous Expense for $25 and credit Cash for $25.
D.No journal entry is required.
Solutions
Expert Solution
The entry would be
| Debit | Credit | |
| Miscellaneous expenses (Expense increase) | 25 | |
| Cash (Asset decrease) | 25 |
Option C is the answer
ekkarill92 answered 2 years agoRelated Solutions
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