EGG HARBOR TOWNSHIP â Alder Avenue Middle School and Fernwood Avenue Middle School held spelling bees Jan. 23 and 25, respectively. Read more 11th annual Dice and Dine fundraiser benefits EHT schools
gainsay (third-person singular simple present gainsays, present participle gainsaying, simple past and past participle gainsaid) To contradict; to withsay; to deny, refute; to controvert; to dispute; to forbid.
Prepaid expense is an asset because it has future economic benefits, i.e. it benefits future periods. In contrast, an expense has no future economic benefits. When prepaid expense is used or expires, it means it will no longer benefit future periods so they become an expense. Therefore, as an asset, when it increases, it either (1) increases equity or (2) decreases another asset (Debit Prepaid Expense, credit Cash).