Question

paid rent in advance 10,000 entry​

Answer 1

Answer:

Payment Entry

Prepaid Rent 10,000 A/c Dr

To Rent A/c 10,000

Explanation:

Assume the rent is paid for 5 months . The above entry is for Advance payment

Next entry will be for 5 months (Journal Entry)

Rent A/c Dr 1,000

To Prepaid Rent 1,000