Action Accounting
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Patricia Green's Organic Fruit and Vegetable Stall
Double Entry: Transaction 4 / of 8
Scene 15
/ of 60
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Double Entry
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Balancing Accounts
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Trial Balance
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Income Statement
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Balance Sheet
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Completed Financial Statements
Transaction: October 2nd, paid rent of €150 by cheque.
Which account should be debited?
Bank Account
Rent Account
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That's correct.
The rent account is an expense account. Increases in expenses are entered on the debit side.
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The rent account is an expense account. Increases in expenses are entered on the debit side.
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