For journal entry
This query is : Resolved
30 August 2013
Hi friends i am sireesha working as an accountant in pvt. company. I have a confusion about the journal entry for rent paid in advance.
in our company 2years rent was paid in advance.
now how to pass the adjustment entry. Please give answer with an example.
in our company 2years rent was paid in advance.
now how to pass the adjustment entry. Please give answer with an example.
CMA Ramesh Krishnan
(Expert)
30 August 2013
you can create the Advance Rent under loans & advances and make transfer entry to expenses monthly with debiting expenses and crediting advance rent
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