Want this question answered?
[Debit] Rent Expense[Credit] Rent payableWhen rent paid[Debit] Rent payable[credit] Cash / bank
Dr Rent Expense Cr Accrued Rent Expense (L) (Rent Due) then Dr Accrued Rent Expense (L) Cr Bank (When it is paid)
outstanding rent
debit rent expense and credit cash
Debit prepaid rent and credit cash.
Debit rentCredit bank
I have never had to use a credit or debit card and I have rented numerous places in Ohio for about 7 years.
Prepaid rent is a rent paid in advance so it is current asset and it will have debit balance as normal balance.
No, only a credit card can be used. No cash in any form.
yes but you need a cash deposit up front
prepaid rent is rent paid before it is due so it is current assets because it's benefit will be taken in future.
car rent a/c DR to cash a/c CR [ being expenses paid ]