[maduraimachan]

What is journal entry for Advanced paid for expense?

[waqastariq]

Prepaid expense A/C 0000
Cash 0000

[waqastariq]

Prepaid expense A/C 0000
Cash 0000

[waqastariq]

prepaid expense A/C 0000 dr
cash 0000

cr

[ahollan1]

What about a travel expense? For both when it is initially paid and at the end of the period when it is either paid back or used?

[morgaine300]

Please start your own thread for you own question instead of tagging onto old threads.

A prepaid expense is a prepaid expense. They're all assets and therefore all debits. The entry is always the same. Anything that has the same "concept" will always be the same entry. (i.e. that a prepaid is a prepaid - same concept.) It's just a matter if you choose to put a name on it. That is, a generic "prepaid expense" or call it what it is, like "prepaid insurance" or "prepaid advertising" or whatever.

When it's used, you credit back out the used portion and expense it. All prepaids do that as well.