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What is the journal entry for Prepaid expenses?
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Answer Posted / raghu.v.
Whatever we have paid in Prepaid have to Treat as assets
Prepaid Expenses Dr Under Current assets
Cash /Bank Cr
| Is This Answer Correct ? | 4 Yes | 1 No |
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paid vendor to RS 15000 and incentives of RS.5000 and deducted Rs.3000 as penalty so finally paid to vendor is Rs.17000. please let me know the journal entry for this.
