Rent recived in accounting equation
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refers to rental income received from either a commercial or a residential property.
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The debit to Rent Expense also causes owner's equity (or stockholders' equity) to decrease. ... To recap the above, the monthly rent payment keeps the sole proprietor's accounting equation, Assets = Liabilities + Owner's Equity, in balance because it reduces the company's assets and it reduces the company's owner's equity.
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