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Paid rent of Rs.25000 by cheque. make journal entry ​
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Paid rent of Rs.25000 by cheque. make journal entry ​

User Mayur Kulkarni
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1 Answer

12 votes

Answer:

see below

Step-by-step explanation:

Rent is an expense to the business. An increase in expenses is debited.

rent was paid by cheque. The transaction will reduce money held at the bank( asset) by Rs. 25,000. A reduction in assets is credited.

The journal entry will be

Rent A/c Dr. Rs. 25,000

Bank A/c Cr. Rs. 25,000

User A J Qarshi
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5.9k points
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