Business Studies, asked by Harshrajesh3046, 1 year ago

What is the journal entry for recording minimum rent payable to land lords

Answers

Answered by ahanmishra17
0

Answer:

I don't know the answer

Answered by mindfulmaisel
0

The royalty account is the journal entry for recording minimum rent payable to landlords.

Explanation:

  • Royalty is the amount that is paid by the lessee as rent for the place rented by them to the landlords.  
  • The amount is paid periodically and it can be entered through two methods.  
  • One method is without opening the minimum rent account and the other method is with the opening of the minimum rent account.

Learn more about journal entry

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