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

By Prepaid expenses dr

To bank a/c cr

sudhakar rao veeranki
2y

Debit the prepaid experience and credit the bank account

Add answer anonymously...

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