what transaction is represented by the entries : debit rent,credit landlord?
my answer:
The payment of rent by the business but l cannot understand what the word “landlord” means (eg income ,assets,liability decrease or increase??) correct??
Landlord is the person to whom we owe the money – he is a payable (i.e. liability). So the entry is not for the payment of rent (if it had been paid then we would credit cash), it is the entry when the bill for the rent is received.