Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 11 - No. 20)
What is the correct double-entry to record payment of rent in cash?
Debit Rent Expense, Credit Cash
Debit Cash, Credit Rent Expense
Debit Rent Expense, Credit Bank
Debit Bank, Credit Rent Expense
Explanation
Paying rent increases rent expense (debit) and decreases cash (credit).
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