Solved
Account for Refunded bond
Hello,
does anyone know which account (asset,liability) i would be reconciling a refund from a bond for a property we are no longer leasing?
Thank you.
Hi ACEPolystyrene , when you paid the bond, it could have been allocated to an asset account, in which case the refund can be credited to the same account. But if it was allocated to rent expenses, then the refund should be allocated to an income account.
