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All revenues has credit balances as default balance like wise rent revenue also has credit balance as default balance instead of debit balance because all expenses has debit as default balance.
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Is rent expense credit or debit?
As all expenses has debit balance as normal balance and rent is also expense then rent expense also has debit balance and shown in income statement as a reduction from revenue.
What is the journal entry of received rent?
Basic entries are as follows: Debit Bank Cash Book account with the Cash amount received Credit Rental Income account with Cash amount received
Is deferred revenue a debit or credit?
debit
Is Unearned revenue a credit or a debit?
A credit
Is rent expense a debit or credit?
debit
Is Decrease in Unearned Rent Revenue a credit or debit?
Debit
Is rent expense credit or debit?
As all expenses has debit balance as normal balance and rent is also expense then rent expense also has debit balance and shown in income statement as a reduction from revenue.
Is rent a debit or credit?
If you are paying rent it is a debit. If you are a landlord receiving rent its a credit.
Is rent expense is credit?
As all expenses has debit balance as normal balance and rent is also expense then rent expense also has debit balance and shown in income statement as a reduction from revenue.
Is revenue a credit or debit?
Revenue is income or a credit.
Is a service revenue a credit or debit?
Service Revenue is credit in nature because it is an income.
What is the journal entry of received rent?
Basic entries are as follows: Debit Bank Cash Book account with the Cash amount received Credit Rental Income account with Cash amount received
Is deferred revenue a debit or credit?
debit
Is Unearned revenue a credit or a debit?
A credit
What would the journal entry be to record an accured revene?
[Debit] Revenue receivable [Credit] Accrued revenue
Is rent expense a debit or credit?
debit
Journal entry for rent payable?
[Debit] Rent Expense[Credit] Rent payableWhen rent paid[Debit] Rent payable[credit] Cash / bank
