Rent Expense Journal Entry
Rent is an Indirect Expense which is recorded in the Income Statement as an Operating Expenses. When rent is paid to rental company during the month against the use of Property, Land, Buildi ng, Motor Vehicle, etc, then it is called Re nt Expense and following Journal Entry is passed by the tenant in the Journal of business as shown below: Rent Expense Account XXX Cash Account XXX (Rent Paid For the Period) Usually, at the start of a tenant agreement, the landlord or owner of the property demands from tenant advance rent for a security purpose, then this advance payment of rent is call...