For passing an adjustment entry for recording prepaid expenses account is debited and account is credited

Cash

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Expenses

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Prepaid expenses

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Profit or loss

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Solution

The correct options are
B Expenses
C Prepaid expenses
The correct adjusting entry for recording prepaid expenses is:

Prepaid Expenses A/c Dr
To Expenses A/c

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For passing an adjustment entry for recording prepaid expenses account is debited and account is credited

The correct options are B Expenses C Prepaid expenses The correct adjusting entry for recording prepaid expenses is: Prepaid Expenses A/c Dr To Expenses A/c

The correct options are
B Expenses
C Prepaid expenses
The correct adjusting entry for recording prepaid expenses is:

Prepaid Expenses A/c Dr
To Expenses A/c