Accounting question need help

SoccerBoss
Category:
Accounting
Price: $5 USD

Question description

  • A client pays $650 a month for office rent and has done so for the last two years. You notice that in the month of June, there is no rent payment, but in July a payment is remitted to the same vendor for $1300. In August, payments continue at $650 a month for the rest of the year. The client confirms their rent agreement hasn’t changed.

What journal entry would you need to book in June?

The client made a cash payment of $1,300 in July. How would you record this?

Tutor Answer

(Top Tutor) Daniel C.
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School: University of Virginia
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