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hi everyone welcome back to sahab Academy today in this video we are going to discuss about prepaid expense and adjusting entry that we pass at the end of accounting period and this prepaid expense is also known as deferred expense unexpired expense and expense paid in advance okay lots of different names are there so you have to know all of them so that when you seen any book or online anyway then you can understand they are referring to prepaid expense only is that clear okay so now in this video we are going to discuss this concept in very much detail with a huge example that will span three accounting periods so weamp;#39;ll see whatamp;#39;s the backstory that happens yeah how the bookkeeper of the junior accountant record this event this transaction and then what adjustment is required by the senior accountant at the end of accounting period and you know he or she will pass the adjusting entry and then on the opening day of the next accounting period the reversal entry and so o