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-   -   T-Accounts Transactions (https://www.askmehelpdesk.com/showthread.php?t=82252)

  • Apr 13, 2007, 10:05 AM
    lmpc211
    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.
  • Apr 13, 2007, 09:55 PM
    CaptainForest
    Dr. Financing Charge/Expense 6,500
    Cr. Cash 6,500

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