The payment for the monthly rent will require which of the following entries?
A) debit Cash and debit Rent Expense
B) credit Cash and credit Rent Expense
C) debit Rent Expense and credit Cash
D) credit Rent Expense and debit Cash

Question

Quizplus · Accepted Answer

The payment for the monthly rent is a cash outflow, so we need to debit Rent Expense for the amount paid. At the same time, we need to credit Cash to reflect the decrease in cash balance. Therefore, the correct entry would be to debit Rent Expense and credit Cash.

The Payment for the Monthly Rent Will Require Which of the Following