How do you account for the free months in a long-term lease?

Mission: Accountable explains how in their post Got Free Rent?

The post walks through a good example and gives the journal entries that would be recorded during the first, free months and then the entry over the remaining term.

The same concepts would apply if the free months occurred at some other point during the lease.

It’s a clear, helpful example. Check it out.

Leave a Reply

Your email address will not be published. Required fields are marked *