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    danielp0223's Avatar
    danielp0223 Posts: 1, Reputation: 1
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    #1

    Sep 29, 2009, 05:09 PM
    Accounting 301
    Rent expired during year, 9300. Do I debit or credit on an adjusted entrie
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Sep 30, 2009, 06:54 AM

    Rent expired means that you used rent that was prepaid during the period. You will have a debit and a credit. Debits = Credits is very basic accounting, not a 301 level accounting course.

    Your debit will be to Rent Expense because you used the rent.
    Your Credit will be to Prepaid Rent because you used part of the rent that was paid for in advance.
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