Need some help with some accounting journal entries.

[Ram007]

Can someoone please kindly provide journal entries for CR and DR entries for the following events. I am a little confused :/

>Prepaid rent for the first quarter for warehouse and office space $15,000 (excluding GST)

>Received an electricity invoice for the month of July $1,500 excluding GST

[Hannibal]

Can someoone please kindly provide journal entries for CR and DR entries for the following events. I am a little confused :/

>Prepaid rent for the first quarter for warehouse and office space $15,000 (excluding GST)

>Received an electricity invoice for the month of July $1,500 excluding GST

Based of off the info you've given.

1. DR Prepaid Rent Expense $15000
    CR Bank $15000

OR

    DR Bank $15000
    CR Prepaid Rent Revenue $15000

Depends if it's a revenue or expense, question doesn't specify ^.

2. DR Electricity Expense $1500
    CR Sundry Creditor $1500

Not 100% sure though.

[Ram007]

Thank you last but not least... what entries would we need for:

Accounts Payable $62,700
>Paid Accounts Payable in full receiving discount of 1% for paying in the discount period.

[RuiAce]

Thank you last but not least... what entries would we need for:

Accounts Payable $62,700
>Paid Accounts Payable in full receiving discount of 1% for paying in the discount period.

So we're assuming a cash discount.

When I learnt this you have

DR Accounts Payable 62700
  CR Cash 62073
  CR Discount Received 627

(Discount received could also be named discount revenue)

[Ram007]

Thank you so much and what about if:

Debtor A $72,600 receivable.

>Debtor A paid within discount period in full, taking a 1% discount. What entries would we require?

[RuiAce]

The converse case is

DR Cash 71874
DR Discount Allowed 726
  CR Accounts Receivable 72600

(Discount allowed can also be named discount expense)