How to Book Prepaid Expense Amortization Journal Entry
Prepaid expenses are costs that have been paid in advance for goods or services that will be received in the future. Prepaid expenses are recorded as assets on the balance sheet until they are used or consumed. When the prepaid expense is used or consumed, it is then recorded as an expense on the income statement.
How to Book Allowance for Doubtful Accounts Journal Entry
Allowance for Doubtful Accounts (AFDA) is an account used to record the estimated amount of customer accounts that may not be collected. It is a contra-asset account, meaning it is a negative asset account that offsets the Accounts Receivable balance. There are two steps to recording AFDA.
How to Book Dividend Declaration Journal Entry
A dividend declaration is a formal action by a company's board of directors that a dividend will be paid to shareholders. The journal entry is the accounting record of the dividend declaration and is used to record the company's liability to pay the dividend.
Supercharge your month-end close
Oops! Something went wrong while submitting the form.