Our is a LLP Organisation. We have taken an office on rent of Rs.7500/- per month. we have done a repairing of office shutter for Rs.3200/-. We have adjusted the same in the rent amount and paid balance to the landlord i.e. Rs. 4300/- in cash. I have passed the following entry :
Office Rent Dr. 7500/- To Repairs and Maintenance Cr. Rs.3200/- To Cash Cr. Rs.4300/-
Is the entry correct or there is some other adjustment for the same, Please suggest.
CAclubindia
