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Journal entry for AMC
Received a telephone bill for yearly subscripttion from 1 sept 2018 to 31 August 2019. What will be the journal entry in books?
Replies (5)
telephone charges Dr
prepaid Telephone charges Dr
to cash/bank
prepaid Telephone charges Dr
to cash/bank
Right sir and please tell me if the bill amount is 10000 then how much will be prepaid exp and will be telephone exp??
Divide the 10k to 365 days...
After getting the value then multiply the 1st September to 31st March (212 days) then book the value in Telephone expenses and balance will be transferred to Prepaid expenses...
After getting the value then multiply the 1st September to 31st March (212 days) then book the value in Telephone expenses and balance will be transferred to Prepaid expenses...
Got it sir..thanks...
You are welcome Dear...
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