Insurance claim
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 November 2012
What entry will have to be passed for insurance claim received in case of damaged business assets?
23 November 2012
DEAR SIR ,
THE JOURNAL ENTRY IS :
1. INSURANCE CLAIM A/C ---DR
To LOSS OF STOCK A/C/
STOCK A/C
2. BANK A/C ----DR
TO INSURANCE CLAIM A/C
THE JOURNAL ENTRY IS :
1. INSURANCE CLAIM A/C ---DR
To LOSS OF STOCK A/C/
STOCK A/C
2. BANK A/C ----DR
TO INSURANCE CLAIM A/C
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