Action Accounting
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The Pineapple Pub
Double Entry: Transaction 4 / of 16
Scene 15
/ of 100
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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
Paid rent of €20,000 by cheque on 7th December.
Which account should be debited?
Bank Account
Rent Payable Account
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Rent payable is debited recogising the increase in an expense account
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Rent payable is an expense, an increase in an expense account should be debited.
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