Vicki Y
Apr 7, 2012, 01:21 PM
3/2--Rental $3,500; $1,500 was paid in cash and $2,000 will be paid on 3/10.
I'm confused on what to do. It appears that cash decreases and rent expense increases.
So do I Debit Rent Expense $3500 and Credit Cash or Accounts Payable $3500?(not sure how to journal the cash and accts payable at the same time) I'm not finding any examples in the book--so I'm doing something wrong.
I'm confused on what to do. It appears that cash decreases and rent expense increases.
So do I Debit Rent Expense $3500 and Credit Cash or Accounts Payable $3500?(not sure how to journal the cash and accts payable at the same time) I'm not finding any examples in the book--so I'm doing something wrong.