How to record PREPAID EXPENSES
In this video, we will learn how to record prepaid expenses and amortize prepaid expenses. Accounting entry for prepaid expenses and amortization of prepaid expenses. Accounting entry for prepaid expenses and amortization of prepaid expenses.
Record the transactions for the company Muebles Reales S.A.S. presented below:
1. On March 10, the company issues a check for $3,000,000 corresponding to three months of advance rent. The rent corresponds to the administrative area offices.
2. On April 1, the company amortizes the first month of prepaid lease expenses amounting to $1,000,000.
Bibliography: University Accounting. Emma Lucía Gudiño Dávila and Lucy del Carmen Coral Delgado.
Accounting Plus. Emma Lucía Gudiño Dávila, Lucy Coral, Lucy del Carmen Coral Delgado.
https://puc.com.co/
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