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Payment of rent using post dated check
How I will make an entry for payment of rental for the year 2008 issued December 2007. We have issued 4 post dated checks checks dated as follows: January 2 for the 1st quarter, April 2 for the 2nd quarter and July 2 for the 3rd quarter and October 2 for the 4th quarter. How I will prepare this entry? Is is debit Prepaid rent and credit Rent Payable? Need your reply
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