kaylagriffiths05 kaylagriffiths05

15-06-2021
Business

contestada

A business receives $5 000 for Rent
Revenue and deposits this amount into its
Bank account. How will this transaction
be recorded?

Respuesta :

topeadeniran2 topeadeniran2

20-06-2021

Answer: Dr Bank $5 000; Cr Rent Revenue $ 5 000

Explanation:

From the information given in the question, we are informed that a business receives $5 000 for Rent

Revenue and deposits this amount into its bank account, this transaction will be recorded thus:

Debit Bank $5000

Credit Rent Revenue $5000

The correct journal entry is written above with regards to the transaction.

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