what will be the treatment of the adjustment-provide for march rent rs150.and rent in trail balance is 1,765.year ended on 31march.
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Answer:
Total rent expense = 1765 + 150 = 1915 and Outstanding rent = 150
Explanation:
'To provide for rent' means to make a provision for rent, which is yet to be paid. i.e., journal entry would be:
Rent expense A/c Dr. 150
To Rent payable A/c 150
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