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journal entry worksheet 1 2 3 4 5 6 record the payment of legal fees. n…

Question

journal entry worksheet
1 2 3 4 5 6
record the payment of legal fees.
note: enter debits before credits.
date general journal debit credit
may 12

Explanation:

Step1: Identify the accounts involved

Legal fees are an expense, and when paid, cash (or another asset account if not paid in cash) is reduced.

Step2: Determine debit - credit rules

Expenses are debited when they increase. So, the Legal Fees Expense account is debited. Assets are credited when they decrease. If paid in cash, the Cash account is credited.

Answer:

DateGeneral JournalDebitCredit
May 12Cash[Amount]

(Replace [Amount] with the actual amount of legal fees paid)