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A company closing its acconts in december..its paying
10000/-as rent......in the month of august it paid 4 months
rent as advance...how will u account this
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Answer Posted / hitendra singh shekhawat
1st entry will pass like this...
Prepaid expenses a/c dr.
To cash a/c
After that on 30/31 sep,oct,nov,dec will pass in such way..
Expenses a/c dr.
To prepaid expenses A/c
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