Subscription Paid In Advance Journal Entry
Su b scriptio n paid in advance is a Current Asset as it is s h ows t h at Expense w hich is paid i n advance to t he compa ny b ut still t he goods or services are not delivered or rendered at t h e end of t h e accounting period to t he compa ny w hich paid su b scriptio n in advance. T he adjusti ng entry to record in t he b ooks of Accou nts is s how n b elow: Su b scriptio n Paid In Advance a/c XXX Sub scriptio n Expense a/c XXX ...