Question

Rs.9000 received for rent related to the next accounting period.journal entry

Answer 1

Answer:

folkow the explanation

Explanation:

(Money received for rent to be collected next year)

Cash A/c dr. 9,000

To Rent Received A/c. 9,000

2. (Rent receivable next year adjusted with rent received in advance account)

Rent Received A/c dr. 9,000

To Rent Received in Advance A/c 9,000

3. – (Income matched to each period)

Rent Received in Advance A/c dr. 9,000

To Rent Received A/c. 9,000