Cash A/C Dr
To Rent Received in Advance A/C
There is no journal entry when equipment rented out to somebody as there will be entry when actual rent received.
Debit prepaid rent and credit cash.
[Debit] CashCredit Rent Received / Rent Revenue
No entry for giving car on rent rather entry is recorded when rent is received from customer.
prepaid rent a/c dr. to cash a/c
cash debit rent in advance credit
There is no journal entry when equipment rented out to somebody as there will be entry when actual rent received.
Debit prepaid rent and credit cash.
[Debit] CashCredit Rent Received / Rent Revenue
No entry for giving car on rent rather entry is recorded when rent is received from customer.
prepaid rent a/c dr. to cash a/c
prepaid rent a/c....................Dr To cash A/c
Journal Entry for Rent Received:[Debit] Rent Received[Credit] Cash/bankJournal entry for rent receivable[Debit] Accounts Receivable[Credit] Rent Receivable
Rent Received Account Dr To Cash/ Bank
Debit prepaid rentCredit bank
when in real estate business when and agreement his signed what entry intialy passed
Rent received a/c debit to cahs or bank a/c credit