Prepaid rent
This query is : Resolved
14 March 2018
we have received invoice dtd. 13.03.18 for rent for the period from mar 2018 to feb 2019 from owner. we have issued some CDC AND PDC to the owner. Could you please let me know what journal entry to pass for this transaction ??Thanks
KAVIRAJA ADDANGADI
(Expert)
14 March 2018
Rent (For March)
Prepaid Expenses ( Rent for Apr-Feb 18) Group ledger under Current Asset
To rent Payable.
Rent payable dr
To Bank
after April Reverse Prepaid Exps
Rent dr
Prepaid Exps/Rent
Prepaid Expenses ( Rent for Apr-Feb 18) Group ledger under Current Asset
To rent Payable.
Rent payable dr
To Bank
after April Reverse Prepaid Exps
Rent dr
Prepaid Exps/Rent
14 March 2018
Thank you so much for the reply. How about mentioning owner account in the journal entry ???
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