Journal

For Receiving cash from friends.

Dr. Cash A/c  Rs. 24000/-

Cr. Fiend 1 A/c                              Rs.6000/-
Cr. Friend 2 A/c                            Rs.6000/-
Cr. Friend 3 A/c                            Rs.6000/-
Cr. Friend 4 A/c                            Rs.6000/-

For paying rent

Dr. Rent A/c Rs. 24000/-

Cr. Cash A/c                                 Rs.24000/-

Amount Due for  from friends for payment to landlord  entry

friend 1 a/c          dr            6000

friend 2 a/c         dr            6000

friend 3 a/c        dr             6000

       to rent payable by friends    18000

Cash received from friends

cash a/c                 dr             18000

 To friend 1            6000

to friend 2             6000

to friend  3             6000

Rent paid

landlords a/c dr 240000

to cash a/c   24000

soniya

if i go by ur entry, then rent payable by friends and landlord account, both these accounts will still show up in my balance sheet !!

Dear Raghvendra sir,

Entry would be:-
Rent dr. 6000 (own) (on due date)
    To Rent payable 6000
Cash dr. 18000 (3 friends) (on receiving from friends)
     To Rent payable   18000
Rent payable dr. 6000 (own) (on payment date)
      To cash 6000
Rent payable 18000 (of 3 friends) (on payment date)
       To cash 18000

Best Regards,
CA Lovely Arora
Lovely Arora and Associates
ca.lovelyarora @ gmail.com

Rent A/c ............... Dr.    6000/-

Friend 1  ..............  Dr.    6000/-

Friend 2  ............... Dr.    6000/-

Friend 3  ............... Dr.    6000/-

    To Rent Payable                         24000/-

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Bank A/c ------------Dr.  18000/-

    To Friend 1                                6000/-

    To Friend 2                                6000/-

    To Friend 3                                6000/-

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Rent Payable A/c ------------ Dr.        24000/-

     to Bank A/c                                                     24000/-

Cash A/c ..................Dr. 18000