Hi all,
could you please pass the correct journal entries for Below transaction on A B & C's books.
A Pays rent to C on behalf of B
In A books:
B a/c Dr.
To Bank/ Cash.
(Being rent paid to C on behalf of B)
In B books
Rent Expense A/c Dr.
To A a/c
(Being rent paid by A)
In C books
Bank/ Cash Dr.
To Rental Income
(Being rental Income recognised)
CAclubindia
