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Need Journal Entry done for this. For example of the sample journal entry, see the below picture: 10. In November you pre-paid $8,000 of December
Need Journal Entry done for this. For example of the sample journal entry, see the below picture:
10. In November you pre-paid $8,000 of December rent. Make an adjusting journal entry dated 12/31/19 recording rent expense as you have used this pre-paid expense. (See the sample November general journal entry for pre-paid creation) Credit Date 11/30/2019 Debit 8,000 Account Number Account Titles and Explainations 1300 Pre-paid Expenses 1000 Checking |- Paid December Rent early 8,000
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