Accrued Professional Fees Journal Entry
Accrued Professio nal Fees means t hat the compa ny received services from professionals and qualified firms b ut still th e payment is not made during t he accou nting period. It is a current liab ility of the b usi ness to pay to t hese professio nals for t he services re ndered to it. T he adjusti ng entry to record accrued professional fees is s how n b elow: Professio nal Fees a/c XXX Accrued Professional Fees a/c XXX (Professional Fees Accrued for t he Period) Accrued Professio nal Fee...