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If paid in cash use the following accounts:

A debit to Audit Fee Expense

A credit to Cash

If the fee is going to be paid at a later date use the following accounts:

Debit to Audit fee expense

Credit to Audit fee payable

Once the fee is paid then we use the following accounts

Debit to Audit fee payable

Credit to Cash a/c

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15y ago
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9y ago

debit audit fee
credit cash

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Q: What is the accounting journal entry to record audit fees?
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