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