Question

Received house rent from Ram - journal?​

Answer 1

Answer:

debit all the expenses and losses credit all income and profits or rent account will be debited for rent paid to Ram.

Explanation:

recording an upfront payment

to account for an upfront rent payment in the general ledger recorded debit to the cash account for the amount received and decorate it to the UN and current account for the same amount the debit increases catch which is an asset