Question

Paid for officer rent

Answer 1

3 golden rule

• debit the receiver , credit the giver

• debit what comes in , credit what goes out

• debit all the expenses and losses , credit all the incomes and gains

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reason for debit and credit

Rent a/c - nominal A/c , rent paid is a expenses to the company therefore its debited

Cash A/c - Real A/c , cash goes out of the company , therefore its credited

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Journal entry

Office rent A/c Dr 150

To Cash A/c 150

(being office rent paid )