prepaid rent a/c dr.
to cash a/c
Debit prepaid rent and credit cash.
prepaid rent a/c....................Dr To cash A/c
outstanding rent
Debit rentCredit bank
Cash A/C Dr To Rent Received in Advance A/C
Debit prepaid rent and credit cash.
prepaid rent a/c....................Dr To cash A/c
Debit prepaid rentCredit bank
cash debit rent in advance credit
outstanding rent
debit rent expense and credit cash
Debit rentCredit bank
Parent company journal entry Debit cash | Credit accounts payable - rent Holding company journal entry Debit accounts receivable - rent | Credit cash
Cash A/C Dr To Rent Received in Advance A/C
[Debit] Rent Expense[Credit] Rent payableWhen rent paid[Debit] Rent payable[credit] Cash / bank
There is no journal entry when equipment rented out to somebody as there will be entry when actual rent received.
6875 paid for five months so one month rent = 6875/5 = 1375 General entry is as follows November 1, 2008 [Debit] Prepaid Rent 6875 [Credit] Cash 6875 December 31, 2008 [Debit] Rent Expense 1375 [Credit]Prepaid Rent 1375