Here is a question i was asked below is the scenario need to enter journal ent

Here is a question i was asked below is the scenario need
to enter journal entrries for both accounting system Cash
and Accrual
:-

1) Landlord A/c
2) Tenant A/c
3) Bills Receivable A/c
4) Cash A/c
5) Bank A/c

Situation:-
1) Bill is created.
2) Bill is sen to the tenant, journal entry =?
3) Cash is received from the tenant, journal entry=?
4) Receipt is created.
5) Receipt is sent to the tenat, journal entry=?

Its urgent, please help.

Question Posted / vinayakssathe

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Here is a question i was asked below is the scenario need to enter journal entrries for both accou..

Answer / yash

in the book of landlord
bill is created & sent
1.)tenant name a/c.........dr
to rent (income)a/c

cash is received from tenant
2.)cash a/c ......dr
to tenant/name a/c

all oposite entry in the books of tenant

if any error pls tell me

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Here is a question i was asked below is the scenario need to enter journal entrries for both accou..

Answer / deepak

in the book of landlord
bill is created & sent
1.)tenant name a/c.........dr
to rent (income)a/c

cash is received from tenant
2.)cash a/c ......dr
to tenant/name a/c
in tenenats book
3.Rent A/c. Dr
Rent Payable A/c
4. Rent payable A/c. Dr
Cahs Bank A/c.

Is This Answer Correct ?

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1 No

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