Select the appropriate alternative from the alternatives given below and rewrite the statement. The rent paid to the landlord should be debited to ____________. a. Drawings a/c b. Cash a/c c. Landlord a/c d. Rent a/c
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Solution
Option D is correct.
When rent is paid to the landlord , Rent A/c is debited.
It is an expense, & according to nominal A/c Rule.
Expenses /Losses are debited and Income/gains are credited.