How would you record prepaid rent that was missed being recorded until the end of the year? $6,000 of the rent expense was paid for the 2019 fiscal year. The trail balance shows a balance of
Rent Expense |
60,000 |
Would it be
31-Dec | DR.Prepaid Rent | 6,000 | |||
CR.Cash | 6,000 | ||||
To record repaid rent for 2019 |
or
31-Dec | Rent Expense | 6,000 | |||
Prepaid Rent | 6,000 | ||||
To record repaid rent for 2019 |
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