hi, if the prepayment invoice dated to 7th June19, for the period 1-06-19 to 31-05-20. and book entry date was 14-06-19. Compnay books close date is 28-06-19.
please advise whether June month cost can be Expense off and rest of the cost can be taken to prepayment account.
what does prepayment concept say in this case..
CAclubindia
