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ENTRY FOR PREPAID INSURENCE AND ENTRY FOR OUTSTANDING RENT

Question Posted / nurulla


ENTRY FOR PREPAID INSURENCE AND ENTRY FOR OUTSTANDING RENT..

Answer / vishukumar b s

PREPAID INSURENCE A\c DR
TO CASH\BANK A\C
RENT A\C DR
TO OUTSTANDING RENT A\C


When exepnses incured enrty willbe

INSURENCE A\C DR
TO PREPAID INSURENCE A\C

When outstanding rent paid entry willbe

OUTSTANDING RENT A\C DR
TO CASH\BANK A\C

Is This Answer Correct ?    25 Yes 2 No

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