Question

Journal entry is make for outstanding expenses, prepaid expenses, interest on
capital, interest on drawing.​

Answer 1

AnswEr :

• Journal entries

Outstanding expenses :

Expenses A/c Dr.

To outstanding expenses A/c

Prepaid expenses :

Prepaid expenses A/c. Dr

To expenses A/c

Interest on capital :

Interest on capital A/c. Dr

To Capital A/c

Interest on drawings :

Capital A/c. Dr

To interest on drawings A/c