Question

Mohan singh owes to his landlord rs 10000 as rent journal entey by

Answer 1

The journal entry for the rent owing to the land lord is shown below ;-

Rent A/C Dr Rs 10,000

Rent Payable A/C Cr Rs 10,000

Here, the rent a expenses account item gets increased , according to the golden rule of accounting  all expenses should be debited .

and the Rent payable is a liability account item , it also gets increased , according to the golden rule of accounting  all liability should be credited .