Banking
LC Commission Income
Recording the issuance fee and confirmation fee charged for opening the LC.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Customer Current Account / Cash | Asset/Liability (-) | - | 1,500.00 |
| LC Commission Income (Fee Revenue) | Revenue (+) | - | 1,500.00 |
💡 Accountant's Note
LC commissions are typically 0.5-1.5% of the LC value per quarter. They are recognized over the validity period of the LC, not necessarily all upfront.
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