Is rent expense debit or credit?
Understand the Problem
The question is asking whether rent expense should be recorded as a debit or a credit in accounting terms. In accounting practices, expenses are generally debited, while revenues and liabilities are credited. Therefore, the focus here is on understanding basic accounting principles related to expense recording.
Answer
Debit
Rent expense is a debit in accounting.
Answer for screen readers
Rent expense is a debit in accounting.
More Information
Rent expense is classified as a debit because it is an expense account, and expenses are recorded as debits to reflect their impact on reducing equity in the accounting cycle.
Tips
A common mistake is confusing rent expense with rent revenue. Rent expense should be debited in the journal entry, while rent revenue (if it exists) should be credited.
Sources
- Why is rent expense a debit in accounting? - homework.study.com
- Why is Rent Expense a debit and Service Revenues a credit? - accountingcoach.com
- How to Record Rent Expense Journal Entry: A Step-by-Step Guide - speakaccounting.com
