Legal Services Journal Entry
What Are Legal Services And The Accounting Treatment Of These Services Conducted During The Accounting Period? Legal Services are those services which are provided when there is a need of legal works such as legal requirement of a business to register, to operate, to file a case in the court for a business matter, etc. Legal services are provided by law firms, lawyers, attorneys, court of law, etc., to clients carrying on the business. For a company’s business, the legal services are Expenses and these are recorded on the Income Statement . The journal entry to record legal services is shown below: For Cash / Bank Legal Services Expense a/c XXX ...