debit unexpired rentcredit prepaid rent
debit unexpired interestcredit interest paid
unexpired
Yes. Unexpired insurance, or prepaid insurance, represents value to the business since it has utility and is owned by the business (the company has claim to the policy). Therefore by definition, unexpired insurance is an asset.
an asset, which is debited!
expired cost - benefit has been received unexpired cost- benefit may or may not be received
expired cost - benefit has been received unexpired cost- benefit may or may not be received
those expenses which have been paid in advance and whose benefit will be available in future are called unexpired or prepaid expenses. e.g. insurance premium
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