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Rent received in advance journal entry
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Answer / lalitha lasya
Debit: Bank/Cash..................$600
Credit: Rent received in advance (liability).............$600
The income received in advance is a liability.
| Is This Answer Correct ? | 28 Yes | 4 No |
Answer / nisha sagore
Bank/cash A/c DR.
Prepaid rent CR.
(Being rent received in advanced)
| Is This Answer Correct ? | 5 Yes | 1 No |
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