Fees Receivable Journal Entry
What Is Fees Receivable / Fees Receivables Meaning / Fees Receivable Under Which Head Fees Receiva b le is a fees receiva b le from clie nts to w hom the compa ny h ad already rendered t h e services b ut the payme nt against suc h services is still not received at t he e nd of t he accou nting period. It is a current asset (on b ala nce s h eet) for t he b usi ness as t he b usi ness will get b e nefits for fees receivab les a gainst t h e services rendered. It is earned b y the b usi ness b ut the payme nt is due from clients. Fees Receivable Debit Or Credit Fees Receivab le has de b it b ala nce as it is a current account so it is also a positive or favorab le for it. however, whe n we close it, we credit it. Whe n it increases, we deb it it a nd w he n it decreases or close out, we credit it w hich is u nfavorab le situatio n for it. Fees Receivable Adjusting Entry T he adjusti ng entry to record fees receivab le is show n b elow: ...