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Rent Paid Rs.12000/- (which is included for the whole year
i.e Jan to Dec) and they have asked me to give Journal
Entry for the
Entry for the Month of Jan, Feb and March
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Answer Posted / umesh
due entry passed in end of every months
rent A/c dr 1000
To outstanding Rent A/c 1000
payment entry
outstanding Rent A/c dr 3000
To Cash A/c 3000
| Is This Answer Correct ? | 7 Yes | 19 No |
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outstanding expenses are the expenses that "unpaid"at the end of the accounting period e.g.salaries rent so they all come to under nominal accounts which is debt all expenses and losses and credit all gains since they are unpaid hence they must be credited
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