1.

Issued a cheque for 5000 in favour of the landlord for rent of February, write a journal entry ?

Answer»

Journal entry of rent is Received.

Rent received is an income.

Example: Rent received from tenant is of RS 5,000. If you are RENTING a room then it is a business.

In the above example, Rent is an income from the business THEREFORE shown on the credit side as rent is nominal account.

Cash A/c Dr 5,000

To Rent A/c 5,000

(being rent received from the tenant)



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