Rent receivable
This query is : Resolved
16 April 2016
the amount of rent receivable on 31 march 2016 is 75000 but actual rent was received on 16 april 2016 net of tds, now what should be the journal entry on 31 march and on the atual date of receipt.
16 April 2016
As we are making entries on Accrual basis, hence we have to account for the accrued income of Rent.
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16 April 2016
Rent receivable a/c dr 75000
To rent 75000
Is this correct
To rent 75000
Is this correct
16 April 2016
Rent Receivable Dr
TDS or Rent Dr
To Rent Income
TDS or Rent Dr
To Rent Income
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