Legal Fees Journal Entry

Legal Fees Expense Journal Entry

A legal fees is the amount paid by the company to law firms, lawyers, court, attorneys, etc., for legal proceedings and other legal works necessary for the business’s existence and running of the business’s operations.

The journal entry to record legal fees for Cash / Bank is shown below:

                                      Legal Fees Expense a/c   XXX

                                                                            Cash a/c / Bank a/c   XXX

                                               (Legal Fees paid for the accounting period)

Legal Fees is an Expense which is recorded in the Income Statement.