The accounts include a payment of $780 for rent made on 1 July 20X7 the payment Is for the 12 months to 30 June 20X8
Can i know why its calculated as overpaid, when its says “1 July 20X7 the payment Is for the 12 months to 30 June 20X8) = July 20×7 till June 20×8 is 12mths is 12mths.
Appreciate if someone can help me with this, as im really confused with the question and answer.