what is the Entry for Prepaid expenses? which side it come
in balance sheet?
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Answer Posted / sunil
When the prepaid exp is paid, the entry would be
Prepaid exp A/c Dr
To Cash A/c
And when it is reversed the entry would be
Expense a/c Dr
To Prepaid Exp A/c
| Is This Answer Correct ? | 16 Yes | 2 No |
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