Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 40 - No. 18)
Which journal entry should a company make when it pays its rent via cheque?
Debit Rent Expense, Credit Bank
Debit Bank, Credit Rent Expense
Debit Rent Expense, Credit Cash
Debit Cash, Credit Rent Expense
Explanation
The bank account will be reduced, and it is also recorded as an expense.
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