Hi all,
could you please pass the correct journal entries for Below transaction on A B & C's books.
A Pays rent to C on behalf of B
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A incurs an expense on behalf of B
Replies (2)
In A books:
B a/c Dr.
To Bank/ Cash.
(Being rent paid to C on behalf of B)
In B books
Rent Expense A/c Dr.
To A a/c
(Being rent paid by A)
In C books
Bank/ Cash Dr.
To Rental Income
(Being rental Income recognised)
B a/c Dr.
To Bank/ Cash.
(Being rent paid to C on behalf of B)
In B books
Rent Expense A/c Dr.
To A a/c
(Being rent paid by A)
In C books
Bank/ Cash Dr.
To Rental Income
(Being rental Income recognised)
Thank you so much
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