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What Is The Journal Entry For Outstanding Rent. The initial journal entry for prepaid rent is a debit to prepaid rent and a credit to cash. So accrued rent means rent owing.
The accounting for accrued rent from the perspectives of the landlord and the renter are noted below. The initial journal entry for prepaid rent is a debit to prepaid rent and a credit to cash. Journal entry for outstanding rent will be rent a/c dr 10,000 to o/s rent a/c 10,000 (being rent outstanding) some examples of outstanding expenses question 1.
Journal entry for outstanding expenses outstanding expenses are those expenses which are due in the current accounting period but not paid. Most students or professionals are trying to apply the nominal rule because they treated. Interest payable 12% per annual. To increase or decrease a rent receivable account balance, it’s always necessary to post journal entries to your company’s general ledger.
