Journal Entry for Rent Paid Cash, Cheque, Advance, Examples
Income and expense a/c is credited to record the journal entry of rent received. Example – XYZ Ltd charges monthly office rent of 100,000 from its tenant. On the 10th of every month, the tenant deducts TDS say 10% on the rent amount i.e. 100,000 at the time of payment of rent to XYZ Ltd. […]