Question
Your company has paid for a motivational speaker to talk to your employees. How would this be recorded as a journal entry in the accounting cycle?
(1 point)
Responses
not recorded since it’s not a business expense
not recorded since it’s not a business expense
recorded as a debit
recorded as a debit
recorded as a credit
recorded as a credit
recorded as a balance
(1 point)
Responses
not recorded since it’s not a business expense
not recorded since it’s not a business expense
recorded as a debit
recorded as a debit
recorded as a credit
recorded as a credit
recorded as a balance
Answers
There are no human answers yet.
Answered by
GPT-4o mini
The correct response would be:
**recorded as a debit.**
When your company pays for a motivational speaker, it is considered a business expense. This would typically be recorded as a debit to an expense account (like "Training Expense" or "Professional Fees") and a credit to cash or accounts payable, depending on how the payment was made. So the journal entry would look something like this:
- Debit: Training Expense (or relevant expense account)
- Credit: Cash (if paid immediately) or Accounts Payable (if it's to be paid later)
**recorded as a debit.**
When your company pays for a motivational speaker, it is considered a business expense. This would typically be recorded as a debit to an expense account (like "Training Expense" or "Professional Fees") and a credit to cash or accounts payable, depending on how the payment was made. So the journal entry would look something like this:
- Debit: Training Expense (or relevant expense account)
- Credit: Cash (if paid immediately) or Accounts Payable (if it's to be paid later)
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.