Question

What is the journal form ? For paid rent

Answer 1

Journal Entry :

Rent A/C. Dr. Rs.xxx

To Cash A/C. (Or) Bank A/C. Rs.xxx

(Being Rent paid)

Explanation :

According to the Nominal Account Principle, Debit all expenses and losses. Rent is an expense for the business. Hence, it is debited.

When rent is paid through cash or cheque, Cash balance or Bank Balance decreases.

According to the Real account principle Credit what goes out of the business. Hence, Cash A/C or Bank account should be credited .

Answer 2

hey mate here is your answer

as we know that rent is a nominal account so as per the golden rules we will debit it as the business is giving rent.


________________________



journal entry for this



rent a/c dr xxx

to cash a/c xxx

(being rent paid)