So my credit will be the amount received from the rent. Credit 1,000?
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So my credit will be the amount received from the rent. Credit 1,000?
If you paid rent the Debit will be to Rent Expense for 1,000 and a credit to Cash (if paid) or Accounts Payable(if not paid)
If you received rent then the Debit will be to Cash (if cash received) or Accounts Receivable(if on account) and the Credit will be to a Revenue account
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