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May 27, 2015

Homework Help: (basic)accounting help plz!

Posted by Thara! on Tuesday, June 1, 2010 at 6:25pm.

June 1: Rented office space and paid three months’ rent in advance, $3,000,
cheque 601.

Ans: Rent expense (DEBIT)
Cash (CREDIT)

adjustment:
a) One month’s rent had expired.

i think it will be:

prepaid rent (DEBIT $2000)
rent payable (CREDIT $2000)

CAN U CHECK IF THESE ARE RIGHT PLZ! THNX

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