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    lmpc211's Avatar
    lmpc211 Posts: 1, Reputation: 1
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    #1

    Apr 13, 2007, 10:05 AM
    T-Accounts Transactions
    How do you record this accounting transaction on the T-Account?

    An entrepreneur applies for a bank line of credit and is granted a $100,000 line of credit. Entrepreneur pays bank fees of $6,500 by company check.

    I'd like to know how to record the above transaction in a T-Account.
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    Apr 13, 2007, 09:55 PM
    Dr. Financing Charge/Expense 6,500
    Cr. Cash 6,500
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