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    Meltariel91's Avatar
    Meltariel91 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 12, 2009, 11:28 AM
    Recording credit card fee expense.stuck!
    Ok. I have this problem: Record credit card fee expense, $342.00. M46. (Debit Credit Card Fee Expense, credit Cash)

    I know this transaction goes in the General Journal. But I can't figure out how to record it. I have already tried, but got the answer wrong. Please help!
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Feb 13, 2009, 11:10 AM

    Debit the expense account for the amount
    Credit Cash if the fee as been paid for the amount or Credit Accounts payable for the amount if the fee as not been paid.

    You may have posted the entries wrong.
    Mihesh148's Avatar
    Mihesh148 Posts: 2, Reputation: 1
    New Member
    		  
    #3

    Feb 15, 2009, 05:46 AM

    Credit Card Expense Dr. $342
    Cash/Accounts Payable Cr. $342.
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