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How to journalize expired rent?
brianthelion22
Jan 13, 2014, 10:42 AM
Rent was paid for May, June and July. At the end of July, journalize and record the expired rent for the upcoming three months.
pready
Jan 13, 2014, 03:32 PM
Debit Rent Expense and Credit Prepaid Rent for the amount of 3 months rent that was prepaid.