Accountancy, asked by rahulgupta41492, 5 months ago

journal entry for prepaid rent

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Answered by BrainlyStud

Answer:

Effect of Prepaid Expenses on Financial Statements

The initial journal entry for prepaid rent is a debit to prepaid rent and a credit to cash. These are both asset accounts and do not increase or decrease a company's balance sheet.

Answered by harshithakakumani

Answer:

Effect of Prepaid Expenses on Financial Statements

The initial journal entry for prepaid rent is a debit to prepaid rent and a credit to cash. These are both asset accounts and do not increase or decrease a company's balance sheet.

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