[Q1] The entity paid $12,000 for monthly rent.
Prepare a journal entry to record this transaction.
[Journal Entry]
| Debit | Credit | |
| Rent expense | 12,000 | |
| Cash | 12,000 |
[Notes]
Debit: Increase in rent expense
Credit: Decrease in cash
Journal entry to record the payment of rent
[Q1] The entity paid $12,000 for monthly rent.
Prepare a journal entry to record this transaction.
[Journal Entry]