Give Journal entries for the following :

(i) Interest due but not received Rs. 2,000

(ii) Rent due to landlord Rs. 1,000.

(iii) Out of the rent paid this year, Rs.3,000 relates to next year.

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Solution

Journal Entries

(i) Accrued Interest A/c Dr. 2,000 and Interest A/c Cr. 2,000.

(ii) Rent A/c Dr. 1,000 and Rent outstanding A/c Cr.1,000.

(iii) Prepaid Rent A/c Dr.3,000 and Rent A/c Cr.3,000.

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Give Journal entries for the following : (i) Interest due but not received Rs. 2,000 (ii) Rent due to landlord Rs. 1,000. (iii) Out of the rent paid this year, Rs.3,000 relates to next year.

Journal Entries (i) Accrued Interest A/c Dr. 2,000 and Interest A/c Cr. 2,000. (ii) Rent A/c Dr. 1,000 and Rent outstanding A/c Cr.1,000. (iii) Prepaid Rent A/c Dr.3,000 and Rent A/c Cr.3,000.

Give Journal entries for the following :

(i) Interest due but not received Rs. 2,000

(ii) Rent due to landlord Rs. 1,000.

(iii) Out of the rent paid this year, Rs.3,000 relates to next year.

Journal Entries

(i) Accrued Interest A/c Dr. 2,000 and Interest A/c Cr. 2,000.

(ii) Rent A/c Dr. 1,000 and Rent outstanding A/c Cr.1,000.

(iii) Prepaid Rent A/c Dr.3,000 and Rent A/c Cr.3,000.