23 November 2011
You Paid on 01/04/2011 Rs. 10000 For Shop Insurance For Two Years. And Debited PL Account 11-12 For Rs. 5000/- and Defered Rs. 5000/- to Be Debited in Next Year. Entry Will Be 2011-12 Insurance Dr. 5000 Prepaid Insurance Dr 5000 To Cash
Year 2012-13 Insurance Dr. 5000 to PP Insurance Account 5000
CAclubindia
