Accrued Rent Journal Entry
Accrued Re nt is a Current Liab ility for th e b usi ness (tenant’s b usi ness) w hich receives re nt facilities from rental company or landlord or owner during t he accou nting period. Accrued Rent is a Current Asset for landlord, owner or rental company’s b usi ness as it considers it as a revenue w hich is ear ned it during t he accou nting period b y providi ng services to tenant b ut still the payme nt is not received from tenant. Accrued Rent Adjusting Entry For Tenant’s B usi ness: Rent Expense a/c XXX Accrued Rent a/c XXX ...