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On Jan. 1 st , 2008, Mr. Khaleel has received an advance payment (OMR30,000) of...

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Accounting

On Jan. 1 st , 2008, Mr. Khaleel has received an advance payment (OMR30,000) of 3 years rent (until Dec. 31 st , 2010). Annual rent is OMR10,000. In the example above, Mr. Khaleel received a cash payment of OMR30,000 on Jan. 1 st , 2008. Identify the type of journal entry that Mr. khaleel recorded in the accounting book. (1 mark)

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