On July 25, Hockey Company's accountant prepared a check for August's rent payment. Hockey Company mails...
On July 25, Hockey Company's accountant prepared a check for August's rent payment. Hockey Company mails the check on July 27 to the landlord. The landlord receives the check on July 31 and cashes the check on August 2. When should Hockey Company record the rent expense associated with this transaction?
A) July 25
B) July 27
C) August 31
D) August 2
Homework Answers
Answer: B
In this case hockey company accountant prepare check July 25th but he issued the check in 27july so the accountant should make an entry in book of records on 27 July as
Entry
27th july Rent a/c Dr. *****
Banks a/c . *****
(Being rent paid to landlord)
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