journal entry of rent paid to landlord
Answers
Answered by
0
Answer:
Rent is an expense and we debit when expenses increase, whereas cash is an asset and we credit the asset account when its value decreases. When the rent is paid in cheque, the idea is to settle the rent from our bank balance. Hence, bank is the asset which decreases in this case.
Answered by
2
Explanation:
rent paid account debit
to cash account
Similar questions