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    kjaunti's Avatar
    kjaunti Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Oct 10, 2006, 01:55 PM
    Journal entry
    If fees are earned but not collected what are my journal entries?
    sajalarora's Avatar
    sajalarora Posts: 16, Reputation: 3
    New Member
    		  
    #2

    Oct 13, 2006, 10:36 PM
    Fees outstanding a/c... dr
    To fees a/c
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
    		  
    #3

    Oct 14, 2006, 11:38 PM
    Dr. Accounts Receivable (instead of Cash)
    Cr. Revenue
    sajalarora's Avatar
    sajalarora Posts: 16, Reputation: 3
    New Member
    		  
    #4

    Oct 15, 2006, 06:47 AM
    Sajal arora
    Fees receivable a/c... dr
    To fees earned a/c

    Fees receivable is debited because as per the accrual based concept any thing earned during the current year but not recevied should be recorded in the books.
    However if this fees was also received during the year then the entry will be

    Cash a/c... dr
    To fees earned a/c

    But now this feess is not received so w'll make a new a/c as fees recevaible.

    And in the year of receipt entry will be.

    Cash a/c... dr
    To fees recevaible a/c
    ddplais's Avatar
    ddplais Posts: 2, Reputation: 1
    New Member
    		  
    #5

    Oct 15, 2006, 08:27 PM
    Quote Originally Posted by kjaunti
    if fees are earned but not collected what are my journal entries?
    Credit Fees income and debit accounts receivable
    arora1998's Avatar
    arora1998 Posts: 7, Reputation: 1
    New Member
    		  
    #6

    Aug 20, 2008, 04:20 AM
    /oo
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