Question

84) Which of the following adjusting double entries is
correct for prepaid expenses?
- A) Debit = Prepaid Expense, Credit = Expense
B) Debit = Expense, Credit = Prepaid Expense
c) Debit = Cash, Credit = Expense
D) Debit = Prepaid Expense, Credit = Cash​

Answer 1

Answer:

Debit = Prepaid Expense, Credit = Cash

d)

Answer 2

Given question -:

84) Which of the following adjusting double entries is

correct for prepaid expenses?

- A) Debit = Prepaid Expense, Credit = Expense

B) Debit = Expense, Credit = Prepaid Expense

c) Debit = Cash, Credit = Expense

D) Debit = Prepaid Expense, Credit = Cash

let's us first understand the meaning of prepaid expenses

prepaid expenses = Prepaid expenses are those expenses which are paid in advance for a benefit yet to be received. The perks of such expenses are yet to be utilised in a future period.

let's try to solve the question

$\huge{ \underline{answer}}$

Prepaid Expense A/C Debit Debit the increase in asset

To Expense A/C Credit Credit the decrease in expense

prepaid expenses is a personal account

Hope this will help you

Thank you ..