Accounting Entry electricity bill

|Dear Sir

Please suggest below entry in books of account is correct or wrong.We have received electricity bill. Rs.9400 days 66 bill period 1 March to 5 May 2021.
Entry in books

Electricity exp Dr.4415 up to March
Prepaid electricity Dr. 4985 Current assets
ELECTRICITY payable Cr. 9400
Replies (4)
Quick Summary
This discussion addresses the correct accounting entry for an electricity bill received in March covering a period that spans into May. It clarifies that the entire bill cannot be recognised as prepaid expense in March. Instead, an entry should be made to recognise the March portion as prepaid expense and create a payable for the remaining amount, with subsequent entries made when the bill is actually received and paid.

You should seperately pass entries on two dates in March and in April and May
As suggested some one entry is correct
in May month entry
Electricity exp 4985/- Dr.
prepaid Electricity 4985/-Cr
In March month balance sheet such rent should be shown as current assets under prepaid expenses. And in April and May you should pass payment entries
You can not book in prepaid expenses as the bill date is in next year so you can not book whole bill in March.
however you can crate expenses payable for rs 4985/- to book march expenses only.
and reverses payable account in the month when bill actually received.

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