rent paid by cheque pass journal entry
Answers
Answered by
3
please Mark it brainliest answer please
You should try asking clearer questions.
Are you receiving rent or are you paying rent?
It makes a difference on the journal entry, doesn’t it?
Rent received:
DR Cash
CR Rental Income
Rent paid:
DR Rent Expense
CR Cash
If you’re paying rent, has the rent liability already been recorded?
Liability:
DR Rent Expense
CR Accounts Payable
Payment of Liability:
DR Accounts Payable
CR Cash
I’ve just written four completely different journal entries, depending upon what you mean, but didn’t say.
Try to ask clearer questions in the future, if you want an accurate answer. Thanks.
You should try asking clearer questions.
Are you receiving rent or are you paying rent?
It makes a difference on the journal entry, doesn’t it?
Rent received:
DR Cash
CR Rental Income
Rent paid:
DR Rent Expense
CR Cash
If you’re paying rent, has the rent liability already been recorded?
Liability:
DR Rent Expense
CR Accounts Payable
Payment of Liability:
DR Accounts Payable
CR Cash
I’ve just written four completely different journal entries, depending upon what you mean, but didn’t say.
Try to ask clearer questions in the future, if you want an accurate answer. Thanks.
gagansharma53:
please Mark it brainliest answer please Mark it brainliest answer please Mark it brainliest answer please Mark it brainliest answer please Mark it brainliest answer please
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Answered by
2
Answer: Dr Rent A/c
Cr Bank A/c ( Related Bank)
Explanation:
Rent is Expense for the company or any entity,so Expenses always debits the account ,and bank should be credited bcz credit shows decrease in balance
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