Corbin Company was charged $25 for a check printing fee associated with its checking account. Which journal entry is required?
A)Debit Miscellaneous Expense for $25 and credit Accounts Payable for $25.
B)Debit Miscellaneous Expense for $25 and credit Accounts Receivable for $25.
C)Debit Miscellaneous Expense for $25 and credit Cash for $25.
D)No journal entry is required.

Question

Quizplus · Accepted Answer

The check printing fee is an expense, so Miscellaneous Expense is debited. Since the fee is paid from the checking account, Cash is credited.

Corbin Company Was Charged $25 for a Check Printing Fee