Revenue
Rent is a revenue account and like all revenue accounts it has credit balance as normal balance.
Rent received or paid both are revenue expenditures as it is to be received or paid at every month time.
so is it accounts rec of 1500 and credit rent revenue of 1500 or is it 2100 unearned rent and rent revenue 2100 I cannot get this straight
[Debit] CashCredit Rent Received / Rent Revenue
Revenue
Rent is a revenue account and like all revenue accounts it has credit balance as normal balance.
Rent revenue appears under the Non-Operating Revenue Section on the income statement.
Other or rent revenue is also revenue which is not from basic operations of business that's why this revenue is shown as other revenue in income statement.
Rent received or paid both are revenue expenditures as it is to be received or paid at every month time.
so is it accounts rec of 1500 and credit rent revenue of 1500 or is it 2100 unearned rent and rent revenue 2100 I cannot get this straight
[Debit] CashCredit Rent Received / Rent Revenue
Nada!
true
If Rent Revenue is shown in income statement but if that revenue is still receivable in accrual accounting system then it will shown under balance sheet at asset side as well.
debit accounts receivable 125Credit fee revenue 100credit rent revenue 25
Debit