Accounting treatment
Querist : Anonymous
What is exactly the transaction ??
Querist : Anonymous
Querist : Anonymous
If purchasing company is under no obligation to pay for it, then how come it is shown in invoice, it means that purchasing company has paid the total invoice amount (incl. insurance) to selling company.
And in such case, the insurance cost is debited to purchase cost of inventory.
Querist : Anonymous
Guest
directly or indirectly the insurance amount is covered under the payment mechanism, hence it is the expense purchasing company.
Correct me , if I am wrong
Querist : Anonymous
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