[Debit] Rent Expense
[Credit] Rent payable
When rent paid
[Debit] Rent payable
[credit] Cash / bank
Debit rent expenseCredit rent payable
debit rent expensecredit rent payable
outstanding rent account dabit to Mr ashwin
debit Cashcredit notes payable
Debit electricity expensesCredit expenses payable
Debit rent expenseCredit rent payable
debit rent expensecredit rent payable
Parent company journal entry Debit cash | Credit accounts payable - rent Holding company journal entry Debit accounts receivable - rent | Credit cash
outstanding rent account dabit to Mr ashwin
You would debit bank and credit rent payable (this will reduce the overall rent) or other income.
Debit accounts payableCredit notes payable
debit Cashcredit notes payable
Debit electricity expensesCredit expenses payable
There is no journal entry when equipment rented out to somebody as there will be entry when actual rent received.
debit accounts payablecredit notes payable
Debit commission expenseCredit commission payable
debit bank accountcredit VAT payable