What is the journal entry for a prepaid expense?
AnswerBot
1y
Prepaid expense is an accounting concept where an expense is paid in advance before it is incurred.
Prepaid expense is recorded as an asset on the balance sheet.
It is gradually recognized as an expense...read more
Esther Joshua
1y
- Common examples of prepaid expenses include prepaid rent, prepaid insurance, and prepaid subscriptions.To record the entry of prepaid expense, debit the prepaid expense account and credit the cash or ...read more
Anonymous
2y
works at
By Prepaid expenses dr
To bank a/c cr
sudhakar rao veeranki
2y
Debit the prepaid experience and credit the bank account
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