lmpc211
Apr 13, 2007, 10:05 AM
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.
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.