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what is the Entry for Prepaid expenses? which side it come
in balance sheet?
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Answer Posted / shiva
prepaid expenses which come in balance sheet asset side only
| Is This Answer Correct ? | 287 Yes | 20 No |
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What is Analysing
outstanding expenses are the expenses that "unpaid"at the end of the accounting period e.g.salaries rent so they all come to under nominal accounts which is debt all expenses and losses and credit all gains since they are unpaid hence they must be credited
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