Like all balance day adjustments, the accrued rent journal entry is straightforward but does require a good understanding of what is trying to achieve.
The journal entry for rent paid is very straightforward. Our article provides you with the full debits and credits and explanations needed.
Accrued revenue adjusting entry; a debit to current assets and a credit to revenue. Read more with a worked example and journal entries to follow through.
Over the last few weeks, we have been focusing on accounting tutorials around balance day adjustments, particularly accrued revenue. As part of that, we looked at unbilled rental income. And it's...
The normal balance of unearned revenue is a credit, being a liability on the balance sheet. We work through an example with journal entries and explanations.
Unbilled revenue is an important part of the balance day adjustments process for financial reporting. Our article works through examples with journal entries to help explain.