what is the Entry for Prepaid expenses? which side it come
in balance sheet?
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Answer Posted / saravanan
Prepiad Expences A/C Dr XXX
To Expences A/c CR XXX
___________________________________________________________
Dr P&L A/C CR
Total Expences XXX
(-)Prepaid Exp XXX
----- XXX
___________________________________________________________
Liability Balancesheet Asset
Prepaid Exp XXX
___________________________________________________________
| Is This Answer Correct ? | 65 Yes | 21 No |
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