RENT AVNS JV

Rent paid in advance what will be the "Journal Entry" kindly suggest
Replies (2)
Quick Summary
This discussion clarifies the journal entry for rent paid in advance. The correct entry involves debiting the 'Rent Paid in Advance' account and crediting the 'Bank' account. This reflects the prepayment of rent, which is an asset until it is expensed over time.

Not clear
Rent Paid in Advance A/c Dr
To Bank A/c

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