Prepaid rent

This query is : Resolved

shalini (Querist)
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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

KAVIRAJA ADDANGADI (Expert)
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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

shalini

shalini (Querist)
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14 March 2018 Thank you so much for the reply. How about mentioning owner account in the journal entry ???