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
The journal entry for rent paid to Mohan would be recorded as follows: Debit Rent Expense (for the amount paid) Credit Cash or Bank (for the same amount) This entry reflects the expense incurred for using the property and the reduction in cash or bank balance due to the payment.
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
The journal entry for rent paid to Mohan would be recorded as follows: Debit Rent Expense (for the amount paid) Credit Cash or Bank (for the same amount) This entry reflects the expense incurred for using the property and the reduction in cash or bank balance due to the payment.
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.