what is the Entry for Prepaid expenses? which side it come
in balance sheet?
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Answer Posted / bharath chowdary
Prepaid expenses it is an expense paid in advance. if it is
asked in Trail balance only it would take place in the
Current assets, the case in other if it is asked in the
adjustments it's supposed to be debited to P&L account and
should be shown in the balance sheet in Assets head as a
current asset.
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