Goods damage due to heavey rain
This query is : Resolved
20 June 2020
Dear sir
Due to heavy rain Godwon roof leakage and damage some goods wroth rs.19800/- its conver under insurance Please advise tous below entry is right or wrong
Dr. Insurance clain receivale ( Under Current assets)
Cr. Purchase account
Due to heavy rain Godwon roof leakage and damage some goods wroth rs.19800/- its conver under insurance Please advise tous below entry is right or wrong
Dr. Insurance clain receivale ( Under Current assets)
Cr. Purchase account
21 June 2020
First Book Loss
Loss on Damage A/c Dr.
To Stock A/c
When Insurance claim receivable
Insurance claim receivable Dr
To Loss on damage
when amount received
Bank A/c Dr
To insurance claim receivable
Loss on Damage A/c Dr.
To Stock A/c
When Insurance claim receivable
Insurance claim receivable Dr
To Loss on damage
when amount received
Bank A/c Dr
To insurance claim receivable
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