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-   -   Adjusting Entries (https://www.askmehelpdesk.com/showthread.php?t=239680)

  • Jul 20, 2008, 04:59 PM
    michaelgraham
    Adjusting Entries
    So my credit will be the amount received from the rent. Credit 1,000?
  • Oct 18, 2008, 05:51 PM
    pready

    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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