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what is the Entry for Prepaid expenses? which side it come
in balance sheet?
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Answer Posted / anoop kb
Prepaid expenses is treated as Current Assets it shown in the
Assets side of the balance sheet under current Assets Journal
entry for prepaid expense is( as per the accounting rule assets increase should be debited)
Prepaid Expense A/c..........Dr
To Expense A/C
For Example Prepaid Insurance
Prepaid Insurance A/C........Dr
To Insurance A/C
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