UNIT 3 HELP NEEDED

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:24AM in AAT student discussion
Hi

I am just completing a practice skills test for unit 3 where I have encountered a problem.

The particular question requires me to write a journal entry regarding rent of £1450. This money was correctly credited to the bank account however no entry was recorded in the rent paid account.

I realise I have to debit the rent paid account but was confused about which account to credit. I initially thought the purchases ledger control account but I thought that this was only for credit purchases only.

So basically my question is: Which account should I credit when writing the journal?

AND

if it is the purchases ledger control account I should credit, then does this mean things like rent, loan repayments, wages and bank charges should be posted to the purchases ledger control account?

Any help would be VERY welcome.

Thanks in advance

Mathew Hill

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:UNIT 3 HELP NEEDED

    Hi Matthew,

    If it says that the rent of £1450 was correctly credited to the bank account then I presume you opened a suspense account to make the trial balance balance so you credit suspense and debit rent I think.

    Hope this helps.

    Colette.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:UNIT 3 HELP NEEDED

    Thats great,

    Thanks very much for your help

    Matt

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