what would be journal entry for rent security deposit with owner
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what will be entry when we receive back rent security
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Rent security journal entry
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Quick Summary
Ledger Name : Rental Advance (current assets).
For payment -
Rental Advance - Rs. 100
To Bank Account - Rs. 100...
For receipts -
Rental Advance - Rs. 100
By Bank Account - Rs. 100
For payment -
Rental Advance - Rs. 100
To Bank Account - Rs. 100...
For receipts -
Rental Advance - Rs. 100
By Bank Account - Rs. 100
When you pay security Deposit entry will be
Security Deposit A/c Dr
To Bank A/c Cr
( Security Deposit paid for rental Home )
Security Deposit Account under head Current -Asset
When you receive back entry will be
Bank A/c Dr
To Security Deposit A/c Cr
( Security Deposit received )
Thank you
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