Accrued Legal Fees Journal Entry
Accrued Legal Fees is the fees which is not paid to the law firms against the services which had been rendered to the company by such law firms during the current accounting period. It is a Current Liability for the company’s business as the payment is not paid to the law firms while the services are rendered to the company for the period. It is shown on the Balance Sheet . The adjusting entry to record accrued legal fees is shown below: Legal Fees Expense a/c XXX Accrued Legal Fee a/c XXX ...