Accounting – 4.3 Other payables and other receivables | e-Consult
4.3 Other payables and other receivables (1 questions)
Login to see all questions.
Click on a question to view the answer
Journal Entry (1 January 2023):
| Date | Account Debited | Account Credited | Amount |
| 1 Jan 2023 | Prepaid Income | Cash | £12,000 |
Ledger Account - Prepaid Income:
| Date | Particulars | Debit | Credit |
| 1 Jan 2023 | Balance b/f | £12,000 | |
| 31 Mar 2023 | Revenue Account | £12,000 |
Journal Entry (31 March 2023):
| Date | Account Debited | Account Credited | Amount |
| 31 Mar 2023 | Revenue Account | Prepaid Income | £12,000 |